New Horizon Aircraft Ltd (NASDAQ: HOVR) has a higher price-to-earnings ratio of 0.57x compared to its average ratio. HOVR has 36-month beta value of -0.51. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for HOVR is 13.95M, and currently, short sellers hold a 0.91% ratio of that float. The average trading volume of HOVR on October 16, 2024 was 861.94K shares.
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HOVR) stock’s latest price update
New Horizon Aircraft Ltd (NASDAQ: HOVR)’s stock price has gone rise by 8.00 in comparison to its previous close of 0.30, however, the company has experienced a 5.78% increase in its stock price over the last five trading days. globenewswire.com reported 2024-10-09 that TORONTO, Oct. 09, 2024 (GLOBE NEWSWIRE) — New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, announced today that it will attend the Japan International Aerospace Exhibition 2024 (“JA2024”) being held October 16 to 19, 2024 in Tokyo, Japan at the Tokyo Big Site.
HOVR’s Market Performance
New Horizon Aircraft Ltd (HOVR) has seen a 5.78% rise in stock performance for the week, with a -56.80% decline in the past month and a -44.14% plunge in the past quarter. The volatility ratio for the week is 12.65%, and the volatility levels for the past 30 days are at 22.63% for HOVR. The simple moving average for the past 20 days is -22.12% for HOVR’s stock, with a -80.46% simple moving average for the past 200 days.
HOVR Trading at -51.02% from the 50-Day Moving Average
After a stumble in the market that brought HOVR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -97.33% of loss for the given period.
Volatility was left at 22.63%, however, over the last 30 days, the volatility rate increased by 12.65%, as shares sank -60.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -39.43% lower at present.
During the last 5 trading sessions, HOVR rose by +4.47%, which changed the moving average for the period of 200-days by -96.81% in comparison to the 20-day moving average, which settled at $0.4158. In addition, New Horizon Aircraft Ltd saw -96.11% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HOVR starting from Shindo Dustin M, who sale 102,000 shares at the price of $0.82 back on Sep 18 ’24. After this action, Shindo Dustin M now owns 1,537,563 shares of New Horizon Aircraft Ltd, valued at $83,640 using the latest closing price.
Shindo Dustin M, the 10% Owner of New Horizon Aircraft Ltd, sale 48,079 shares at $0.76 during a trade that took place back on Sep 13 ’24, which means that Shindo Dustin M is holding 1,654,563 shares at $36,540 based on the most recent closing price.
Stock Fundamentals for HOVR
Current profitability levels for the company are sitting at:
- -147.06 for the present operating margin
- 0.24 for the gross margin
The net margin for New Horizon Aircraft Ltd stands at -28.96. The total capital return value is set at -1.3. Equity return is now at value 14.98, with 14.06 for asset returns.
Based on New Horizon Aircraft Ltd (HOVR), the company’s capital structure generated -0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -80.83. The debt to equity ratio resting at -0.0. The interest coverage ratio of the stock is -1544.16.
Currently, EBITDA for the company is -7.83 million with net debt to EBITDA at 0.62. When we switch over and look at the enterprise to sales, we see a ratio of 100.03. The receivables turnover for the company is 0.71for trailing twelve months and the total asset turnover is 0.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.05.
Conclusion
To put it simply, New Horizon Aircraft Ltd (HOVR) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
