Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 45.7% in February

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 872,100 shares, a growth of 45.7% from the January 31st total of 598,400 shares. Based on an average daily volume of 529,800 shares, the short-interest ratio is currently 1.6 days. Currently, 7.9% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, Director Sudhin Shahani purchased 17,237 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $3.43 per share, with a total value of $59,122.91. Following the completion of the transaction, the director now owns 360,877 shares of the company’s stock, valued at $1,237,808.11. The trade was a 5.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

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

Surf Air Mobility Stock Performance

Shares of NYSE SRFM traded up $0.08 during mid-day trading on Tuesday, hitting $3.23. The stock had a trading volume of 247,649 shares, compared to its average volume of 399,922. The business has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $2.94. Surf Air Mobility has a 1 year low of $0.90 and a 1 year high of $7.77. The firm has a market cap of $54.62 million, a P/E ratio of -0.20 and a beta of 2.35.

Analyst Upgrades and Downgrades

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