Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Grows By 59.5%

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a significant growth in short interest in 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 shares are short sold. Based on an average daily trading volume, of 941,800 shares, the days-to-cover ratio is currently 0.8 days.

Surf Air Mobility Trading Up 2.2 %

SRFM opened at $5.61 on Monday. The company’s 50 day moving average is $2.92 and its 200-day moving average is $2.28. The company has a market cap of $87.00 million, a P/E ratio of -0.35 and a beta of 3.30. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $11.83.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Surf Air Mobility

In related news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of $1.25 per share, with a total value of $1,588,586.25. Following the completion of the transaction, the insider now owns 2,730,166 shares in the company, valued at $3,412,707.50. The trade was a 87.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sudhin Shahani purchased 17,237 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $3.43 per share, with a total value of $59,122.91. Following the purchase, the director now owns 360,877 shares of the company’s stock, valued at approximately $1,237,808.11. The trade was 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 Inflows and Outflows

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd bought a new position in Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to its most recent filing with the SEC. The firm bought 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned approximately 0.18% of Surf Air Mobility as of its most recent SEC filing. Institutional investors and hedge funds own 17.68% of the company’s stock.

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.