Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Down 42.0% in January

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 3,980,942 shares, a decline of 42.0% from the December 31st total of 6,860,714 shares. Currently, 6.9% of the company’s shares are sold short. Based on an average trading volume of 7,140,379 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 7,140,379 shares, the days-to-cover ratio is presently 0.6 days. Currently, 6.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

SRFM has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their target price on shares of Surf Air Mobility from $3.75 to $3.50 and set a “hold” rating on the stock in a report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surf Air Mobility in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.50.

Institutional Trading of Surf Air Mobility

Several large investors have recently bought and sold shares of SRFM. Vanguard Group Inc. lifted its position in shares of Surf Air Mobility by 233.2% during the third quarter. Vanguard Group Inc. now owns 1,886,429 shares of the company’s stock worth $8,093,000 after purchasing an additional 1,320,353 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Surf Air Mobility by 81,240.1% in the 3rd quarter. Raymond James Financial Inc. now owns 952,492 shares of the company’s stock worth $4,086,000 after buying an additional 951,321 shares in the last quarter. HRT Financial LP acquired a new position in Surf Air Mobility in the 2nd quarter worth $2,212,000. Millennium Management LLC boosted its position in Surf Air Mobility by 3,450.8% in the 3rd quarter. Millennium Management LLC now owns 488,272 shares of the company’s stock valued at $2,095,000 after buying an additional 474,521 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Surf Air Mobility by 246.3% during the third quarter. UBS Group AG now owns 447,260 shares of the company’s stock valued at $1,919,000 after acquiring an additional 318,108 shares in the last quarter. Institutional investors and hedge funds own 17.68% of the company’s stock.

Surf Air Mobility Trading Down 4.7%

Shares of NYSE SRFM traded down $0.10 on Friday, reaching $2.02. 2,637,493 shares of the company traded hands, compared to its average volume of 5,232,122. Surf Air Mobility has a fifty-two week low of $1.77 and a fifty-two week high of $9.91. The company has a 50 day moving average of $2.31 and a 200 day moving average of $3.60.

Surf Air Mobility (NYSE:SRFM) last released its earnings results on Wednesday, November 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.03). The company had revenue of $29.17 million for the quarter.

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.