Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Down 42.0% in January

Surf Air Mobility Inc. (NYSE:SRFM) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 3,980,942 shares, a drop of 42.0% from the December 31st total of 6,860,714 shares. Based on an average daily volume of 7,140,379 shares, the short-interest ratio is presently 0.6 days. Currently, 6.9% of the company’s stock are short sold. Currently, 6.9% of the company’s stock are short sold. Based on an average daily volume of 7,140,379 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SRFM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Surf Air Mobility in a research report on Wednesday, January 21st. Canaccord Genuity Group decreased their price target on Surf Air Mobility from $3.75 to $3.50 and set a “hold” rating for the company in a research note on Friday, November 14th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Surf Air Mobility presently has a consensus rating of “Hold” and a consensus target price of $6.50.

Surf Air Mobility Price Performance

NYSE SRFM traded down $0.05 during trading on Friday, reaching $2.08. 1,694,043 shares of the company’s stock were exchanged, compared to its average volume of 5,315,896. The business has a 50 day moving average price of $2.31 and a 200-day moving average price of $3.63. The stock has a market capitalization of $129.88 million, a P/E ratio of -0.84 and a beta of 3.03. Surf Air Mobility has a fifty-two week low of $1.77 and a fifty-two week high of $9.91.

Surf Air Mobility (NYSE:SRFM) last issued its earnings results on Wednesday, November 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.03). The firm had revenue of $29.17 million during the quarter.

Hedge Funds Weigh In On Surf Air Mobility

Several large investors have recently modified their holdings of the stock. DNB Asset Management AS bought a new stake in shares of Surf Air Mobility during the 2nd quarter worth about $287,000. Bridgeway Capital Management LLC lifted its position in Surf Air Mobility by 141.1% during the third quarter. Bridgeway Capital Management LLC now owns 38,446 shares of the company’s stock worth $165,000 after acquiring an additional 22,500 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Surf Air Mobility during the third quarter worth approximately $197,000. Geode Capital Management LLC boosted its holdings in shares of Surf Air Mobility by 14.6% during the second quarter. Geode Capital Management LLC now owns 127,602 shares of the company’s stock worth $471,000 after acquiring an additional 16,273 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Surf Air Mobility by 246.3% during the third quarter. UBS Group AG now owns 447,260 shares of the company’s stock worth $1,919,000 after acquiring an additional 318,108 shares during the period. 17.68% of the stock is owned by institutional investors.

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.