Short Interest in New Horizon Aircraft Ltd. (NASDAQ:HOVRW) Expands By 291.3%

New Horizon Aircraft Ltd. (NASDAQ:HOVRW) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 58,700 shares, an increase of 291.3% from the December 31st total of 15,000 shares. Based on an average daily trading volume, of 145,600 shares, the days-to-cover ratio is currently 0.4 days.

New Horizon Aircraft Stock Performance

Shares of NASDAQ:HOVRW traded down $0.01 during midday trading on Tuesday, hitting $0.05. 42,354 shares of the company’s stock traded hands, compared to its average volume of 129,809. New Horizon Aircraft has a twelve month low of $0.01 and a twelve month high of $0.17. The firm’s fifty day moving average price is $0.06 and its two-hundred day moving average price is $0.03.

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.