Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Increases By 40.7%

Surf Air Mobility Inc. (NYSE:SRFM) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 5,601,528 shares, a growth of 40.7% from the January 15th total of 3,980,942 shares. Approximately 9.7% of the shares of the company are sold short. Based on an average daily volume of 3,590,581 shares, the short-interest ratio is presently 1.6 days. Based on an average daily volume of 3,590,581 shares, the short-interest ratio is presently 1.6 days. Approximately 9.7% of the shares of the company are sold short.

Surf Air Mobility Trading Up 0.8%

SRFM stock traded up $0.02 on Monday, hitting $2.00. 1,180,985 shares of the company’s stock traded hands, compared to its average volume of 2,653,788. The stock has a market cap of $124.87 million, a price-to-earnings ratio of -0.80 and a beta of 3.03. Surf Air Mobility has a 1-year low of $1.77 and a 1-year high of $9.91. The stock has a fifty day moving average of $2.29 and a 200-day moving average of $3.35.

Institutional Trading of Surf Air Mobility

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group lowered 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 research note on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surf Air Mobility in a research note 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.50.

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.