Surf Air Mobility Inc. (NYSE:SRFM) Sees Significant Increase in Short Interest

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 495,600 shares, an increase of 30.6% from the September 15th total of 379,400 shares. Based on an average daily volume of 218,900 shares, the days-to-cover ratio is currently 2.3 days. Currently, 5.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other 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 bought at an average price of $1.25 per share, for a total transaction of $1,588,586.25. Following the purchase, the insider now owns 2,730,166 shares in the company, valued at $3,412,707.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 36,551 shares of company stock worth $48,344 over the last three months. 8.10% of the stock is currently owned by company insiders.

Surf Air Mobility Stock Down 7.5 %

NYSE SRFM traded down $0.15 on Tuesday, reaching $1.84. The company had a trading volume of 515,476 shares, compared to its average volume of 301,194. The stock has a market capitalization of $23.61 million, a PE ratio of -0.08 and a beta of 1.53. Surf Air Mobility has a 12 month low of $0.90 and a 12 month high of $11.83. The firm’s 50 day moving average price is $1.57 and its 200 day moving average price is $2.49.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $30.15 million. On average, research analysts expect that Surf Air Mobility will post -7.07 EPS for the current 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.