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

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 598,400 shares, an increase of 45.2% from the January 15th total of 412,100 shares. Approximately 5.4% of the company’s shares are sold short. Based on an average daily trading volume, of 530,100 shares, the short-interest ratio is currently 1.1 days.

Insider Transactions at Surf Air Mobility

In other news, Director Sudhin Shahani purchased 17,237 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the purchase, the director now owns 360,877 shares of the company’s stock, valued at $1,237,808.11. This trade represents a 5.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SRFM. Marshall Wace LLP acquired a new stake in shares of Surf Air Mobility during the 4th quarter valued at about $375,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Surf Air Mobility in the third quarter worth $31,000. Jane Street Group LLC acquired a new stake in shares of Surf Air Mobility during the fourth quarter worth $99,000. Brave Asset Management Inc. acquired a new stake in shares of Surf Air Mobility during the fourth quarter worth $86,000. Finally, XTX Topco Ltd acquired a new stake in shares of Surf Air Mobility during the fourth quarter worth $63,000. Institutional investors own 17.68% of the company’s stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price objective 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 Stock Performance

Shares of Surf Air Mobility stock traded down $0.38 during midday trading on Friday, reaching $4.55. 329,198 shares of the company’s stock traded hands, compared to its average volume of 287,200. The company has a market cap of $70.57 million, a price-to-earnings ratio of -0.29 and a beta of 2.35. The company’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $2.80. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $9.38.

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.