While walking home from dinner at the site above, was looking at the sky after previously observing an unusual meteor event (about six objects traveling parallel). It was also the full moon, so we were observing the sky. Noticed the object hovering. It seemed very bright, as if close and at a low altitude compared to aircraft frequently observed approaching Lakefront Airport (KNEW, I tried to call them). I a familiar with navigational lights as a frequent passenger in a former employer/pilots aircraft, and from general observation living near Lakefront Airport, and being on the north approach to Fargo Airport for 10 years. There were red lights port and starboard (wrong), a variable white/green light at top, and a white strobe. We sighted it twice above the tree line between 0 and 8 degrees north of our position, first at an angle of about 45 degrees, then at a lower angle just above the tree line. Craft accelerated very rapidly from stationary hover in a northward direction. It returned above the tree line, hovered, then again proceeded north. On this second sighting, I observed it make a very abrupt 90 degree course change first left/west, then right/north, inconsistent with any aircraft I have observed. Based on the luminosity of the lights, I would have expected it to be closer than it probably was, close though to emit some engine noise, but neither my girlfriend or I heard anything although there was no interfering noise that would prevent us from hearing it. I am reporting this based on the atypical presentation of its lights, its sudden accelerations and stops, and particularly the abrupt change of course exhibited at the end of the sighting. This object would have been within the immediate airspace of Lakefront Airport, and visibility of the tower without doubt. I actually tried to call the listed number of the after-hours airport manager, but got voicemail with a full mailbox. There were two of us present who observed all of this except the abrupt course change, which the trees obscured from my girlfriends sight just as I lost sight of it.