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 during the month of February. As of February 15th, there was short interest totalling 872,100 shares, an increase of 45.7% from the January 31st total of 598,400 shares. Based on an average trading volume of 529,800 shares, the days-to-cover ratio is currently 1.6 days. Currently, 7.9% of the shares of the stock are sold short.

Insider Activity at Surf Air Mobility

In other news, Director Sudhin Shahani bought 17,237 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the transaction, the director now owns 360,877 shares of the company’s stock, valued at approximately $1,237,808.11. This represents a 5.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surf Air Mobility

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brave Asset Management Inc. purchased a new position in shares of Surf Air Mobility in the 4th quarter worth approximately $86,000. Gordian Capital Singapore Pte Ltd bought a new stake in Surf Air Mobility in the third quarter worth $31,000. Jane Street Group LLC purchased a new position in Surf Air Mobility during the fourth quarter worth $99,000. Marshall Wace LLP bought a new position in Surf Air Mobility during the fourth quarter valued at $375,000. Finally, Geode Capital Management LLC raised its stake in shares of Surf Air Mobility by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock valued at $503,000 after acquiring an additional 4,215 shares during the period. 17.68% of the stock is currently owned by hedge funds and other institutional investors.

Surf Air Mobility Price Performance

Shares of Surf Air Mobility stock traded down $0.27 during trading hours on Monday, reaching $3.16. The company’s stock had a trading volume of 208,197 shares, compared to its average volume of 399,306. Surf Air Mobility has a one year low of $0.90 and a one year high of $7.90. The firm has a 50 day moving average price of $4.42 and a 200-day moving average price of $2.93. The stock has a market cap of $53.52 million, a P/E ratio of -0.20 and a beta of 2.35.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their price objective on Surf Air Mobility from $2.20 to $4.00 and gave the stock a “hold” rating in a report on Friday, December 13th.

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.