New Horizon Aircraft Ltd. (NASDAQ:HOVRW) Sees Large Drop in Short Interest

New Horizon Aircraft Ltd. (NASDAQ:HOVRW) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 6,425 shares, a decrease of 42.6% from the February 26th total of 11,194 shares. Based on an average daily volume of 27,961 shares, the days-to-cover ratio is currently 0.2 days.

New Horizon Aircraft Stock Performance

NASDAQ:HOVRW traded up $0.01 during mid-day trading on Friday, reaching $0.31. The stock had a trading volume of 21,645 shares, compared to its average volume of 48,319. The firm has a 50 day moving average price of $0.37 and a two-hundred day moving average price of $0.40. New Horizon Aircraft has a one year low of $0.03 and a one year high of $0.86.

About New Horizon Aircraft

New Horizon Aircraft Ltd., an aerospace original equipment manufacturer company, focuses on designing and developing hybrid electric vertical takeoff and landing (eVTOL) aircraft for the regional air mobility market. It is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically. The company was founded in 2013 and is headquartered in Lindsay, Canada.