Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Update

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 777,900 shares, a growth of 59.5% from the November 30th total of 487,700 shares. Currently, 7.1% of the company’s stock are sold short. Based on an average trading volume of 941,800 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their price target on shares of Surf Air Mobility from $2.20 to $4.00 and gave the company a “hold” rating in a report on Friday, December 13th.

Insiders Place Their Bets

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. acquired 1,270,869 shares of Surf Air Mobility stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $1.25 per share, for a total transaction of $1,588,586.25. Following the purchase, the insider now owns 2,730,166 shares of the company’s stock, valued at approximately $3,412,707.50. This represents a 87.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sudhin Shahani purchased 17,237 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $3.43 per share, with a total value of $59,122.91. Following the completion of the acquisition, the director now directly owns 360,877 shares of the company’s stock, valued at approximately $1,237,808.11. This trade represents a 5.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Surf Air Mobility

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Surf Air Mobility Inc. (NYSE:SRFM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned about 0.18% of Surf Air Mobility as of its most recent filing with the Securities and Exchange Commission. 17.68% of the stock is owned by institutional investors.

Surf Air Mobility Stock Up 2.2 %

NYSE:SRFM opened at $5.61 on Monday. The stock has a market cap of $87.00 million, a P/E ratio of -0.35 and a beta of 3.30. The business’s 50-day moving average price is $2.92 and its two-hundred day moving average price is $2.28. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $11.83.

Surf Air Mobility Company Profile

Surf Air Mobility Inc operates as an electric aviation and air travel company in the United States. The company offers an air mobility platform with scheduled routes and on demand charter flights operated by third parties. Surf Air Mobility Inc is headquartered in Hawthorne, California.