Horizon Aircraft complies with Nasdaq's minimum bid requirements, closing the matter as it develops its hybrid eVTOL aircraft.
Quiver AI Summary
New Horizon Aircraft, also known as Horizon Aircraft, announced it has regained compliance with Nasdaq's minimum bid requirement, indicating that the issue has been resolved. The company is recognized for its development of a hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft, the Cavorite X7, which aims to deliver exceptional speed, range, and operational utility while flying like a conventional aircraft. Horizon Aircraft plans to complete testing and certification of this innovative aircraft and scale production to meet demand from various sectors, including regional operators, emergency services, and military. For further details, interested parties can visit the company's website or their YouTube channel.
Potential Positives
- Horizon Aircraft has regained compliance with Nasdaq's minimum bid requirement, indicating improved financial stability and market confidence.
- The announcement highlights the company’s focus on innovative aerospace technology, particularly in the hybrid eVTOL sector, suggesting potential for future growth and industry leadership.
- Successfully completing testing and certification of the Cavorite X7 eVTOL positions the company to meet expected demand from various sectors, enhancing its market opportunity.
- The press release reinforces the company's commitment to safety, performance, and utility in its aircraft designs, which could appeal to potential investors and customers.
Potential Negatives
- The press release mentions that the company received notice about regaining compliance with Nasdaq's minimum bid requirement, indicating that it may have previously been at risk of being delisted, which could affect investor confidence.
- There is no detailed discussion of the company's current financial health or operational challenges, which could raise concerns among investors about its long-term viability.
- While the announcement highlights technological development, it lacks specifics on timelines or progress towards certification and production, which may leave stakeholders questioning the feasibility of their goals.
FAQ
What recent compliance announcement did Horizon Aircraft make?
Horizon Aircraft announced it has regained compliance with Nasdaq's minimum bid requirement, closing the matter successfully.
What is Horizon Aircraft known for?
Horizon Aircraft is known for developing one of the world's first hybrid eVTOL aircraft, focusing on safety and performance.
Where can I watch Horizon Aircraft’s technology in action?
You can watch Horizon Aircraft's innovative technology on the Company’s YouTube channel.
What is the Cavorite X7 eVTOL?
The Cavorite X7 eVTOL is Horizon Aircraft's advanced aircraft designed to offer speed, range, and operational utility.
Who can be contacted for investor inquiries at Horizon Aircraft?
For investor inquiries, please contact Matt Chesler at FNK IR via email at [email protected].
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HOVR Insider Trading Activity
$HOVR insiders have traded $HOVR stock on the open market 20 times in the past 6 months. Of those trades, 20 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $HOVR stock by insiders over the last 6 months:
- ERIC BRANDON ROBINSON (Chief Executive Officer) has made 5 purchases buying 19,817 shares for an estimated $11,332 and 0 sales.
- BRIAN FREDERICK MERKER (Chief Financial Officer) has made 5 purchases buying 13,113 shares for an estimated $7,508 and 0 sales.
- JASON MICHAEL O'NEILL (Chief Operating Officer) has made 5 purchases buying 11,959 shares for an estimated $6,887 and 0 sales.
- STEWART MURRAY LEE (Head of People & Strategy) has made 5 purchases buying 3,057 shares for an estimated $1,765 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$HOVR Hedge Fund Activity
We have seen 3 institutional investors add shares of $HOVR stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG removed 123,753 shares (-85.3%) from their portfolio in Q1 2025, for an estimated $64,351
- HRT FINANCIAL LP removed 56,203 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $63,509
- VIRTU FINANCIAL LLC removed 41,761 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $21,715
- XTX TOPCO LTD added 25,935 shares (+inf%) to their portfolio in Q1 2025, for an estimated $13,486
- TWO SIGMA SECURITIES, LLC removed 24,071 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $12,516
- NATIONAL BANK OF CANADA /FI/ added 20,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $10,400
- TUTTLE CAPITAL MANAGEMENT, LLC removed 12,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $13,559
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- New Horizon Aircraft (NASDAQ: HOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), an advanced aerospace engineering company and developer of one the world’s first hybrid eVTOL (electric Vertical Take-Off and Landing) aircraft, announced today that it received notice from The Nasdaq Stock Market that the Company has regained compliance with the Nasdaq Capital Market’s minimum bid requirement in Listing Rule 5550(a)(2) and that the matter is now closed.
For more information about Horizon Aircraft, please see the Company’s website or watch its innovative technology in action on the Company’s YouTube channel .
About Horizon Aircraft
Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon intends to successfully complete testing and certification of its Cavorite X7 eVTOL and then scale unit production to meet expected demand from regional operators, emergency service providers, and military customers.
Visit www.horizonaircraft.com for more information.
Contacts
Investors:
Matt Chesler, CFA
FNK IR
(646) 809-2183
[email protected]
Media:
Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
[email protected]
