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New horizon aircraft head of strategy sells $89k in shares

Published 15/07/2025, 14:36
New horizon aircraft head of strategy sells $89k in shares
HOVR
-8.11%

Lee Stewart Murray, Head of People & Strategy at New Horizon Aircraft LTD (HOVR), recently sold 50,000 shares of Class A Ordinary Shares. The sale occurred on June 27, 2025, at a price of $1.781 per share, totaling $89,050.

Following the transaction, Murray directly owns 248,194 shares of New Horizon Aircraft LTD. The $49.9 million market cap company currently trades at a P/E ratio of 1.49, with InvestingPro analysis suggesting the stock is slightly overvalued at current levels. Discover 15+ additional exclusive insights and real-time insider trading alerts with InvestingPro.

In other recent news, Horizon Aircraft announced a successful full wing transition of its Cavorite X7 eVTOL prototype, marking a significant milestone in its development. The company, which is focusing on hybrid electric vertical takeoff and landing aircraft, is progressing toward the testing and certification of the Cavorite X7. In a strategic move, Horizon Aircraft has partnered with MT-Propeller to enhance the speed, efficiency, and noise reduction of its aircraft, furthering its production readiness. Additionally, Horizon Aircraft has regained compliance with Nasdaq’s minimum bid requirement, closing a compliance matter that had been pending.

The company is also collaborating with ZeroAvia to explore hydrogen-electric powertrains for its aircraft, aiming to advance zero-emission flight technologies. 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 in the Advanced Air Mobility market. Horizon Aircraft’s ongoing efforts are being closely monitored by investors, especially given its recent achievements and partnerships. These developments come as the company aims to meet the anticipated demand from regional operators, emergency service providers, and military customers.

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