Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 45.2% in January

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient 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 company’s stock are sold short. Based on an average daily volume of 530,100 shares, the days-to-cover ratio is presently 1.1 days.

Insider Activity at Surf Air Mobility

In other Surf Air Mobility news, Director Sudhin Shahani purchased 17,237 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the purchase, the director now directly owns 360,877 shares in the company, valued at $1,237,808.11. This represents a 5.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Surf Air Mobility

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Surf Air Mobility by 4.7% during 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. Marshall Wace LLP purchased a new position in Surf Air Mobility during the 4th quarter valued at about $375,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Surf Air Mobility in the 3rd quarter valued at about $31,000. Jane Street Group LLC purchased a new stake in shares of Surf Air Mobility in the fourth quarter worth approximately $99,000. Finally, Brave Asset Management Inc. acquired a new stake in shares of Surf Air Mobility during the fourth quarter worth approximately $86,000. Institutional investors and hedge funds own 17.68% of the company’s stock.

Surf Air Mobility Trading Down 7.7 %

Surf Air Mobility stock traded down $0.38 during mid-day trading 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 has a market cap of $70.57 million, a price-to-earnings ratio of -0.29 and a beta of 2.35. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $9.38. The business has a 50 day moving average price of $4.32 and a 200-day moving average price of $2.80.

Analyst Ratings Changes

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

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.