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Brian Frederick Merker, the Chief Financial Officer of New Horizon Aircraft Ltd. (NASDAQ:HOVR), has recently increased his stake in the company through a series of purchases amounting to $18,390. These transactions, disclosed in a recent SEC filing, involved acquiring Class A Ordinary Shares without par value over several months. The company, currently trading at $1.12 per share with a market capitalization of $34.21 million, has shown strong momentum with a 93.1% price return over the past six months.
The purchases were made at varying prices, with the transaction prices ranging from $0.335 to $1.069 per share. The acquisitions span from May 2024 to May 2025, reflecting Merker’s ongoing commitment to the company’s growth and potential. According to InvestingPro, HOVR holds more cash than debt on its balance sheet, maintaining a healthy financial position with a FAIR overall health score.
This series of transactions highlights the CFO’s confidence in New Horizon Aircraft’s future, as he continues to expand his holdings in the company. With the stock trading at a P/E ratio of just 1.49, investors seeking deeper insights into insider trading patterns and 17 additional exclusive ProTips can explore InvestingPro’s comprehensive analysis tools.
In other recent news, Horizon Aircraft has achieved a major milestone with the successful full wing transition of its Cavorite X7 eVTOL prototype. This development marks a crucial step in the advancement of its hybrid electric aircraft technology. The company is currently in the design phase of the Cavorite X7, which is expected to have seven seats and the ability to take off and land vertically, similar to a helicopter. Horizon Aircraft’s recent progress positions it as a notable contender in the rapidly evolving Advanced Air Mobility (AAM) market.
Oak Ridge Financial has initiated coverage of Horizon Aircraft with a Buy rating and set a price target of $2.35. This valuation reflects confidence in the company’s future prospects, based on a 3.00x EV/Sales metric applied to fiscal year 2030 estimates. The company is actively working on a full-scale, piloted technical demonstrator, which is under construction. Horizon Aircraft aims to complete testing and certification of the Cavorite X7 and scale up production to meet anticipated demand. The company’s efforts are being closely monitored by investors and industry observers.
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