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

Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) was the target of a significant increase in short interest in 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 company's stock are short sold.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price target on shares of Surf Air Mobility from $2.20 to $4.00 and gave the company a "hold" rating in a research report on Friday, December 13th.

Insider Buying and Selling

In other Surf Air Mobility news, Director Sudhin Shahani bought 17,237 shares of the stock in a transaction that occurred 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 acquisition, the director now directly owns 360,877 shares of the company's stock, valued at approximately $1,237,808.11. The trade was a 5.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SRFM. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Surf Air Mobility during the 3rd quarter valued at about $31,000. XTX Topco Ltd purchased a new stake in shares of Surf Air Mobility in the 4th quarter valued at $63,000. Brave Asset Management Inc. bought a new position in shares of Surf Air Mobility during the 4th quarter valued at $86,000. Jane Street Group LLC purchased a new position in Surf Air Mobility in the 4th quarter worth $99,000. Finally, Marshall Wace LLP purchased a new stake in Surf Air Mobility during the fourth quarter valued at about $375,000. Institutional investors own 17.68% of the company's stock.

Surf Air Mobility Stock Down 3.8 %

SRFM traded down $0.16 during trading on Thursday, reaching $4.02. 106,905 shares of the company were exchanged, compared to its average volume of 400,695. Surf Air Mobility has a 12-month low of $0.90 and a 12-month high of $7.77. The company's 50-day moving average is $4.42 and its two-hundred day moving average is $2.97. The company has a market cap of $68.09 million, a price-to-earnings ratio of -0.25 and a beta of 2.35.

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.