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Jason Michael O’Neill, the Chief Operating Officer of New Horizon Aircraft Ltd. (NASDAQ:HOVR), has made a series of stock purchases according to a recent SEC filing. Over the course of several months, O’Neill acquired Class A Ordinary Shares without par value, totaling $17,769. The shares were purchased at prices ranging from $0.335 to $1.069. The timing appears strategic, as HOVR shares have surged 93% over the past six months, currently trading at $1.12. InvestingPro analysis shows strong analyst consensus, with a "Strong Buy" rating.
The transactions spanned from May 2024 to May 2025, with the largest single purchase occurring on October 17, 2024, when O’Neill acquired 4,062 shares at an average price of $0.335. As of the latest transaction on May 20, 2025, O’Neill’s direct ownership in the company amounted to 265,968 shares. With a market capitalization of $34.21 million and trading at a P/E ratio of just 1.49, the stock appears attractively valued despite being slightly above InvestingPro’s Fair Value estimate.
These acquisitions reflect O’Neill’s ongoing investment in New Horizon Aircraft, a company known for its innovative approaches in the aviation sector. The purchases were executed in multiple transactions, with prices varying slightly within specified ranges, as detailed in the SEC filing’s footnotes. For deeper insights into insider trading patterns and 17+ additional exclusive tips, check out InvestingPro.
In other recent news, Horizon Aircraft has announced a significant technical milestone with the successful full wing transition of its Cavorite X7 eVTOL prototype aircraft. This achievement is considered a critical step in the development of its hybrid electric aircraft, utilizing patented fan-in-wing technology. The company is currently in the design phase of the Cavorite X7, a seven-seat hybrid-electric aircraft capable of vertical takeoff and landing. Horizon Aircraft aims to disrupt the Regional Air Mobility market with projected enroute speeds of up to 250 mph and operational ranges exceeding 500 miles. In addition to these advancements, Horizon Aircraft has received a Buy rating from Oak Ridge Financial, with a price target of $2.35. This outlook reflects confidence in the company’s future prospects within the growing Advanced Air Mobility industry. The company is preparing to demonstrate its advancements on a full-scale, piloted technical demonstrator, which is under construction. Horizon Aircraft’s progress is being closely watched by investors and industry observers as it continues to develop its hybrid eVTOL aircraft.
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