Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Declines By 27.2%

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 566,100 shares, a drop of 27.2% from the December 15th total of 777,900 shares. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is presently 0.5 days. Approximately 5.2% of the company’s stock are sold short.

Insider Transactions at Surf Air Mobility

In related news, Director Sudhin Shahani purchased 17,237 shares of Surf Air Mobility stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $3.43 per share, with a total value of $59,122.91. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Brave Asset Management Inc. bought a new stake in Surf Air Mobility Inc. (NYSE:SRFM) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 16,000 shares of the company’s stock, valued at approximately $86,000. Brave Asset Management Inc. owned about 0.10% of Surf Air Mobility at the end of the most recent quarter. Institutional investors own 17.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Surf Air Mobility Trading Down 1.8 %

NYSE SRFM traded down $0.07 during trading on Wednesday, reaching $3.81. The company’s stock had a trading volume of 280,913 shares, compared to its average volume of 434,391. The stock has a market capitalization of $59.09 million, a PE ratio of -0.24 and a beta of 2.47. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $10.08. The business has a 50-day moving average price of $3.69 and a 200-day moving average price of $2.50.

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.