Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 59.5% in December

Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 777,900 shares, a growth of 59.5% from the November 30th total of 487,700 shares. Based on an average daily volume of 941,800 shares, the days-to-cover ratio is currently 0.8 days. Approximately 7.1% of the company's shares are short sold.

Insider Buying and Selling at Surf Air Mobility

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. acquired 1,270,869 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $1.25 per share, with a total value of $1,588,586.25. Following the transaction, the insider now owns 2,730,166 shares in the company, valued at $3,412,707.50. The trade was a 87.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sudhin Shahani bought 17,237 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $3.43 per share, for a total transaction of $59,122.91. Following the transaction, the director now directly owns 360,877 shares of the company's stock, valued at approximately $1,237,808.11. This represents a 5.02 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.10% of the company's stock.

Institutional Trading of Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Surf Air Mobility Inc. (NYSE:SRFM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 23,059 shares of the company's stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned about 0.18% of Surf Air Mobility as of its most recent SEC filing. Institutional investors and hedge funds own 17.68% of the company's stock.

Surf Air Mobility Stock Performance

Shares of SRFM traded up $0.12 during trading hours on Friday, hitting $5.61. The stock had a trading volume of 3,242,590 shares, compared to its average volume of 345,690. Surf Air Mobility has a 12-month low of $0.90 and a 12-month high of $11.83. The firm has a market cap of $87.00 million, a P/E ratio of -0.35 and a beta of 3.30. The company's fifty day simple moving average is $2.92 and its 200 day simple moving average is $2.28.

Analyst Ratings Changes

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.