SoFi CEO enters prepaid forward contract on 1.5 million shares
New Horizon Aircraft Ltd. (HOVR) Chief Executive Officer Eric Brandon Robinson reported purchasing 1111 shares of the company’s Class A Ordinary Shares on June 23, 2025. The shares were bought at prices ranging from $2.250 to $2.310, for a total transaction value of $2499.
Following the transaction, Robinson directly owns 47037 shares of New Horizon Aircraft Ltd. In addition, Robinson indirectly owns 2,317,510 shares held by Robinson Family Ventures Inc. The $47.39 million market cap company trades at a P/E ratio of 1.49x, though InvestingPro analysis suggests the stock is slightly overvalued despite its 213% return over the past year. For deeper insights into insider trading patterns and additional financial metrics, explore InvestingPro, which offers 14 more exclusive tips for HOVR.
In other recent news, Horizon Aircraft has regained compliance with Nasdaq’s minimum bid requirement, closing a compliance matter that had been pending. The company is advancing its Cavorite X7, a hybrid eVTOL aircraft, by partnering with MT-Propeller for propeller supply, marking its first major hardware commitment as it shifts from prototype development to manufacturing. This partnership aims to enhance the aircraft’s speed, efficiency, and noise reduction. Oak Ridge Financial has initiated coverage on Horizon Aircraft with a Buy rating and a $2.35 price target, reflecting confidence in the company’s future prospects in the Advanced Air Mobility market.
Horizon Aircraft recently achieved a significant milestone by completing a full wing transition with its Cavorite X7 prototype, a crucial step in its development process. This achievement underscores the company’s commitment to becoming a significant player in the emerging eVTOL sector. The Cavorite X7 is designed to offer both vertical takeoff and conventional runway capabilities, with projected speeds of up to 250 mph and operational ranges exceeding 500 miles. Horizon Aircraft continues to focus on testing and certification to meet anticipated demand from regional operators, emergency service providers, and military customers. These developments highlight the company’s ongoing efforts to establish itself in the advanced air mobility market.
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