Short Interest in New Horizon Aircraft Ltd. (NASDAQ:HOVRW) Declines By 42.6%

New Horizon Aircraft Ltd. (NASDAQ:HOVRW) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 6,425 shares, a decline of 42.6% from the February 26th total of 11,194 shares. Based on an average daily trading volume, of 27,961 shares, the short-interest ratio is presently 0.2 days.

New Horizon Aircraft Stock Performance

HOVRW stock traded up $0.01 during midday trading on Friday, reaching $0.31. 21,645 shares of the company’s stock traded hands, compared to its average volume of 48,319. The firm’s fifty day moving average price is $0.37 and its 200-day moving average price is $0.40. New Horizon Aircraft has a 52 week low of $0.03 and a 52 week high of $0.86.

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. The company was founded in 2013 and is headquartered in Lindsay, Canada.