New Horizon Aircraft Ltd (NASDAQ: HOVR) has experienced a decline in its stock price by -9.13 compared to its previous closing price of 0.73. However, the company has seen a fall of -13.35% in its stock price over the last five trading days. 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?
The price-to-earnings ratio for New Horizon Aircraft Ltd (NASDAQ: HOVR) is 1.17x, which is above its average ratio. Moreover, the 36-month beta value for HOVR is 2.13. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for HOVR is 17.12M and currently, short sellers hold a 4.91% of that float. On December 10, 2024, HOVR’s average trading volume was 3.83M shares.
HOVR’s Market Performance
HOVR’s stock has seen a -13.35% decrease for the week, with a 128.10% rise in the past month and a -13.26% fall in the past quarter. The volatility ratio for the week is 24.39%, and the volatility levels for the past 30 days are at 25.24% for New Horizon Aircraft Ltd The simple moving average for the last 20 days is 16.02% for HOVR’s stock, with a simple moving average of -39.41% for the last 200 days.
HOVR Trading at 59.34% 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 -94.57% of loss for the given period.
Volatility was left at 25.24%, however, over the last 30 days, the volatility rate increased by 24.39%, as shares surge +127.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +31.84% upper at present.
During the last 5 trading sessions, HOVR fell by -13.35%, which changed the moving average for the period of 200-days by -55.76% in comparison to the 20-day moving average, which settled at $0.5682. In addition, New Horizon Aircraft Ltd saw -92.08% 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 457.32. 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 wrap up, the performance of New Horizon Aircraft Ltd (HOVR) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.
