The stock price of New Horizon Aircraft Ltd (NASDAQ: HOVR) has surged by 4.55 when compared to previous closing price of 0.51, but the company has seen a 18.47% gain in its stock price over the last five trading sessions. globenewswire.com reported 2024-11-06 that TORONTO, Nov. 06, 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 Brandon Robinson, CEO, and Jason O’Neill, COO, will participate in the 13th Annual Roth Technology Conference being held November 19 – 20, 2024, at the Hard Rock Hotel in New York City. Horizon Aircraft’s management team will conduct one-on-one and small group meetings on Wednesday, November 20.
Is It Worth Investing in New Horizon Aircraft Ltd (NASDAQ: HOVR) Right Now?
New Horizon Aircraft Ltd (NASDAQ: HOVR) has a price-to-earnings ratio that is above its average at 0.95x. The stock has a 36-month beta value of 1.01. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for HOVR is 17.12M, and at present, short sellers hold a 0.66% of that float. On November 26, 2024, the average trading volume of HOVR was 3.05M shares.
HOVR’s Market Performance
HOVR stock saw an increase of 18.47% in the past week, with a monthly gain of 74.79% and a quarterly increase of -46.69%. The volatility ratio for the week is 19.80%, and the volatility levels for the last 30 days are 18.49% for New Horizon Aircraft Ltd (HOVR). The simple moving average for the last 20 days is 33.22% for HOVR stock, with a simple moving average of -52.77% for the last 200 days.
HOVR Trading at 36.04% 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 -95.61% of loss for the given period.
Volatility was left at 18.49%, however, over the last 30 days, the volatility rate increased by 19.80%, as shares surge +74.51% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -33.25% lower at present.
During the last 5 trading sessions, HOVR rose by +18.67%, which changed the moving average for the period of 200-days by -69.83% in comparison to the 20-day moving average, which settled at $0.4002. In addition, New Horizon Aircraft Ltd saw -93.59% 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
- -0.28 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.
Currently, EBITDA for the company is -7.83 million with net debt to EBITDA at 0.43. When we switch over and look at the enterprise to sales, we see a ratio of 338.81. 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 sum up, New Horizon Aircraft Ltd (HOVR) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing 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.
