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

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 777,900 shares, an increase of 59.5% from the November 30th total of 487,700 shares. Currently, 7.1% of the company’s stock are short sold. Based on an average trading volume of 941,800 shares, the short-interest ratio is presently 0.8 days.

Insider Transactions 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 purchased at an average price of $1.25 per share, with a total value of $1,588,586.25. Following the transaction, the insider now directly owns 2,730,166 shares of the company’s stock, valued at $3,412,707.50. This trade represents a 87.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sudhin Shahani bought 17,237 shares of Surf Air Mobility stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the transaction, the director now directly owns 360,877 shares in the company, valued at $1,237,808.11. This represents a 5.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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 bought a new position in shares of Surf Air Mobility Inc. (NYSE:SRFM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned 0.18% of Surf Air Mobility as of its most recent SEC filing. 17.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Surf Air Mobility Price Performance

Shares of SRFM opened at $5.61 on Friday. The company’s fifty day moving average price is $2.92 and its 200-day moving average price is $2.27. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $11.83. The firm has a market capitalization of $87.00 million, a PE ratio of -0.35 and a beta of 3.30.

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.