Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 45.2% in January

Surf Air Mobility Inc. (NYSE:SRFM) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 598,400 shares, an increase of 45.2% from the January 15th total of 412,100 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average daily volume of 530,100 shares, the days-to-cover ratio is currently 1.1 days.

Surf Air Mobility Trading Down 7.7 %

Shares of SRFM traded down $0.38 on Friday, reaching $4.55. The company’s stock had a trading volume of 329,198 shares, compared to its average volume of 287,200. The stock has a market capitalization of $70.57 million, a PE ratio of -0.29 and a beta of 2.35. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $9.38. The firm has a fifty day moving average of $4.32 and a 200-day moving average of $2.80.

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 shares were bought at an average cost of $3.43 per share, for a total transaction of $59,122.91. Following the purchase, the director now owns 360,877 shares in the company, valued at approximately $1,237,808.11. This trade represents a 5.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Brave Asset Management Inc. bought a new stake in shares of Surf Air Mobility in the fourth quarter valued at $86,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Surf Air Mobility during the 3rd quarter valued at about $31,000. Jane Street Group LLC purchased a new stake in shares of Surf Air Mobility during the 4th quarter valued at $99,000. Marshall Wace LLP bought a new stake in Surf Air Mobility during the fourth quarter worth about $375,000. Finally, Geode Capital Management LLC grew its position in Surf Air Mobility by 4.7% during 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 last quarter. Institutional investors own 17.68% of the company’s stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their price objective on Surf Air Mobility from $2.20 to $4.00 and gave the company 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.