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

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 779,000 shares, an increase of 57.2% from the September 30th total of 495,600 shares. Approximately 8.6% of the shares of the company are sold short. Based on an average daily volume of 775,300 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their target price on shares of Surf Air Mobility from $1.00 to $2.20 and gave the company a “hold” rating in a research report on Tuesday, August 27th.

Insider Buying and Selling at Surf Air Mobility

In other news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $1.25 per share, for a total transaction of $1,588,586.25. Following the completion of the purchase, the insider now owns 2,730,166 shares in the company, valued at approximately $3,412,707.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 36,551 shares of company stock worth $48,344 over the last ninety days. Insiders own 8.10% of the company’s stock.

Surf Air Mobility Price Performance

NYSE:SRFM traded up $0.09 during trading hours on Tuesday, hitting $1.83. The company’s stock had a trading volume of 102,123 shares, compared to its average volume of 301,539. The company has a market capitalization of $23.48 million, a P/E ratio of -0.07 and a beta of 1.53. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $11.83. The stock has a fifty day simple moving average of $1.56 and a 200-day simple moving average of $2.20.

Surf Air Mobility (NYSE:SRFM) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.56). The firm had revenue of $32.37 million for the quarter, compared to the consensus estimate of $30.15 million. On average, equities analysts predict that Surf Air Mobility will post -7.07 EPS for the current fiscal year.

About Surf Air Mobility

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.