On July 10, 2025, Stewart Murray Lee (Head of People & Strategy) executed an open market sale of 50,000 shares of New Horizon Aircraft Ltd.(HOVR), with the transaction disclosed in a Form 4 filing dated July 15, 2025.
Transaction summary
| Metric | Value |
|---|---|
| Shares Traded | 50,000 |
| Transaction Value | $89,050 |
| Post-Transaction Value | $387,180, as of July 15, 2025. |
| 12-month Performance | 196%, as of July 15, 2025. |
Key questions
What proportion of the insider's holdings was sold in this transaction?
The transaction represented approximately 16.8% of Lee Stewart Murray's holdings, leaving 248,194 shares after the sale.
What is the current market context for New Horizon Aircraft Ltd?
As of July 18, 2025, shares were priced at $1.74 a share. In the 12 months ended July 19, 2025, the company delivered a 190.6% total return, reflecting significant appreciation over the past year.
What is the significance of this transaction relative to recent activity?
This is the insider's first reported sale following a period of predominantly buying activity and accelerating trade frequency, with five trades in the last 30 days and six in the last 90 days.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $65.10 million |
| Employees | 20 |
| Revenue (TTM) | $0 |
| Net income (TTM) | $10,114,000 |
Company snapshot
- Develops hybrid electric vertical takeoff and landing (eVTOL) aircraft, including the Cavorite X7, targeting the regional air mobility market.
- Operates a research and development-driven model focused on engineering and prototyping.
New Horizon Aircraft Ltd. is an early-stage aerospace engineering company specializing in hybrid eVTOL aircraft for regional air mobility. Its focus on the Cavorite X7 positions it to compete in the emerging advanced air mobility sector.
Foolish take
New Horizon Aircraft was founded in 2013. It was acquired by Astro Aerospace in 2021, was taken private a year later by its own shareholders, and eventually went public on the Nasdaq stock exchange in January 2024 through a SPAC merger.
Horizon Aircraft, as the company calls itself, is building a hybrid electric eVTOL that can quickly move people and goods within a region of 50 to 500 miles. Cavorite X7 is a 7-seater aircraft that can take off and land vertically similar to a helicopter but can fly faster, farther, and more efficiently. Emergency medical services, disaster relief, critical supplies to remote communities, military missions, and luxury travel are the key use cases for eVOTL aircrafts.
The eVOTL market has strong growth potential. Grand View Research, for instance, predicts the eVOTL aircraft market in the U.S. to grow at a compound annual growth rate of 53% from 2024 to 2030.
Horizon Aircraft currently has a full-sized prototype aircraft under construction but it doesn’t expect to deliver its first aircraft “until 2027, at the earliest, if at all.” It will take years for the Canada-based company to obtain a type certificate, production certificate, and airworthiness certificate for the Cavorite X7 from Canada’s civil aviation authority, without which it cannot sell planes commercially. The eVOTL stock, meanwhile, has surged 190% in one year and has a market cap of $65 million, as of this writing.
Glossary
Open market sale:When an insider sells company shares on a public stock exchange, not through private arrangements.
Form 4 filing:A required SEC document disclosing insider trades in a company's securities.
Insider:Company executive, director, or major shareholder with access to non-public information.
Insider's trade sizes:The number of shares an insider typically buys or sells in each transaction.
Post-transaction:The status or amount of holdings after a specific trade has been completed.
Total return:The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
eVTOL:Electric Vertical Takeoff and Landing aircraft, capable of taking off and landing like a helicopter using electric or hybrid power.
Regional air mobility:Air transportation solutions for short to medium distances, often using innovative aircraft.
Prototyping:Creating early models of a product to test concepts and designs before full-scale production.
TTM:The 12-month period ending with the most recent quarterly report.
Advanced air mobility:New aviation technologies enabling efficient, flexible, and often urban or regional air transport.
