Virtu Financial LLC Takes Position in New Horizon Aircraft Ltd. (NASDAQ:HOVR)

Virtu Financial LLC purchased a new stake in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 41,761 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.13% of New Horizon Aircraft at the end of the most recent quarter.

Separately, Capital Investment Advisors LLC bought a new stake in New Horizon Aircraft in the fourth quarter valued at about $29,000. Institutional investors own 65.97% of the company’s stock.

Analysts Set New Price Targets

Separately, D. Boral Capital restated a “buy” rating and set a $2.00 price objective on shares of New Horizon Aircraft in a research note on Wednesday, January 15th.

Insider Transactions at New Horizon Aircraft

In related news, major shareholder Dustin M. Shindo sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $0.50, for a total value of $37,500.00. Following the completion of the transaction, the insider now owns 1,394,368 shares of the company’s stock, valued at approximately $697,184. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 167,870 shares of company stock valued at $84,953. Corporate insiders own 11.10% of the company’s stock.

New Horizon Aircraft Stock Performance

NASDAQ:HOVR opened at $0.50 on Wednesday. The business has a 50 day simple moving average of $0.57 and a 200 day simple moving average of $0.59. New Horizon Aircraft Ltd. has a 12-month low of $0.24 and a 12-month high of $2.60.

New Horizon Aircraft (NASDAQ:HOVR) last posted its earnings results on Tuesday, January 14th. The company reported $0.80 EPS for the quarter.

New Horizon Aircraft Profile

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 in the Uinted States. The company is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically like and helicopter.