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

Surf Air Mobility Inc. (NYSE:SRFM) saw a significant growth in short interest in the month of 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. Currently, 5.4% of the company’s stock are sold short. Based on an average daily trading volume, of 530,100 shares, the short-interest ratio is presently 1.1 days.

Insider Transactions at Surf Air Mobility

In related news, Director Sudhin Shahani bought 17,237 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.10% of the stock is owned by insiders.

Institutional Trading of Surf Air Mobility

Institutional investors and hedge funds have recently bought and sold shares of the business. Brave Asset Management Inc. bought a new stake in Surf Air Mobility in the fourth quarter valued at approximately $86,000. Gordian Capital Singapore Pte Ltd bought a new stake in Surf Air Mobility in the third quarter valued at approximately $31,000. Jane Street Group LLC bought a new stake in Surf Air Mobility in the fourth quarter valued at approximately $99,000. Marshall Wace LLP bought a new position in shares of Surf Air Mobility during the fourth quarter worth approximately $375,000. Finally, Geode Capital Management LLC increased its stake in shares of Surf Air Mobility by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock worth $503,000 after purchasing an additional 4,215 shares during the period. Institutional investors own 17.68% of the company’s stock.

Surf Air Mobility Trading Down 7.7 %

NYSE:SRFM traded down $0.38 on Friday, hitting $4.55. The company’s stock had a trading volume of 329,198 shares, compared to its average volume of 287,200. The stock has a fifty day moving average of $4.32 and a two-hundred day moving average of $2.80. The firm has a market capitalization of $70.57 million, a P/E ratio of -0.29 and a beta of 2.35. Surf Air Mobility has a one year low of $0.90 and a one year high of $9.38.

Analyst Upgrades and Downgrades

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