SoFi CEO enters prepaid forward contract on 1.5 million shares
New Horizon Aircraft LTD (HOVR:CA) Chief Operating Officer Jason Michael O’Neill reported purchasing 656 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 $1476. The purchase comes as the $47.39 million market cap company’s stock has declined 21.62% in the past week, though it maintains a remarkable 213.51% gain over the past year. According to InvestingPro, the stock trades at an attractive P/E ratio of 1.49, with a FAIR financial health rating.
Following the transaction, O’Neill directly owns 266,624 shares of New Horizon Aircraft LTD. Want deeper insights into insider trading patterns and 14+ additional ProTips? Discover more with InvestingPro.
In other recent news, Horizon Aircraft has achieved a significant milestone by successfully completing the full wing transition of its Cavorite X7 eVTOL prototype. This advancement marks a crucial step in the development of its hybrid electric aircraft, showcasing the company’s potential in the emerging advanced air mobility market. Horizon Aircraft also announced a strategic partnership with MT-Propeller to supply propellers for the Cavorite X7, aimed at enhancing speed and efficiency while reducing noise. This partnership is seen as a major commitment as Horizon transitions from prototype development to manufacturing implementation. Additionally, Oak Ridge Financial initiated coverage on Horizon Aircraft with a Buy rating and set a price target of $2.35, reflecting confidence in the company’s future prospects. Horizon Aircraft recently regained compliance with Nasdaq Capital Market’s minimum bid requirement, closing a compliance matter with the stock exchange. The company continues to focus on completing testing and certification of the Cavorite X7, aiming to meet anticipated demand from regional operators, emergency service providers, and military customers. These developments underscore Horizon Aircraft’s commitment to becoming a significant player in the advanced air mobility sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.