Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Rises By 45.2%

Surf Air Mobility Inc. (NYSE:SRFMGet Free Report) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 598,400 shares, a growth of 45.2% from the January 15th total of 412,100 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 530,100 shares, the days-to-cover ratio is presently 1.1 days.

Analysts Set New Price Targets

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

View Our Latest Analysis on SRFM

Insider Buying and Selling

In related news, Director Sudhin Shahani purchased 17,237 shares of Surf Air Mobility stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $3.43 per share, with a total value of $59,122.91. Following the completion of the transaction, the director now directly owns 360,877 shares of the company’s stock, valued at $1,237,808.11. This represents a 5.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Surf Air Mobility

A number of large investors have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd bought a new position in shares of Surf Air Mobility in the 3rd quarter valued at $31,000. Brave Asset Management Inc. bought a new position in shares of Surf Air Mobility in the 4th quarter valued at $86,000. Geode Capital Management LLC lifted its stake in shares of Surf Air Mobility by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock valued at $503,000 after acquiring an additional 4,215 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Surf Air Mobility in the 4th quarter valued at $63,000. Finally, Marshall Wace LLP bought a new position in shares of Surf Air Mobility in the 4th quarter valued at $375,000. Institutional investors and hedge funds own 17.68% of the company’s stock.

Surf Air Mobility Stock Down 7.7 %

Shares of SRFM stock traded down $0.38 during trading hours on Friday, reaching $4.55. The company’s stock had a trading volume of 329,198 shares, compared to its average volume of 287,200. The firm’s 50 day simple moving average is $4.32 and its 200-day simple moving average is $2.80. The company has a market capitalization of $70.57 million, a price-to-earnings ratio of -0.29 and a beta of 2.35. Surf Air Mobility has a fifty-two week low of $0.90 and a fifty-two week high of $9.38.

Surf Air Mobility Company Profile

(Get Free Report)

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.

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