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

Surf Air Mobility Inc. (NYSE:SRFM) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 841,100 shares, a decrease of 15.3% from the February 28th total of 993,400 shares. Currently, 7.0% of the company’s stock are short sold. Based on an average daily volume of 410,500 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

SRFM has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their price target on Surf Air Mobility from $4.00 to $3.75 and set a “hold” rating for the company in a report on Thursday, March 20th. HC Wainwright assumed coverage on shares of Surf Air Mobility in a report on Friday, March 7th. They issued a “buy” rating and a $12.00 target price for the company.

Insider Buying and Selling at Surf Air Mobility

In other news, Director Tyler Painter sold 25,417 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $3.65, for a total transaction of $92,772.05. Following the completion of the transaction, the director now directly owns 40,765 shares of the company’s stock, valued at approximately $148,792.25. This represents a 38.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Surf Air Mobility

Several hedge funds have recently made changes to their positions in SRFM. Brave Asset Management Inc. purchased a new position in Surf Air Mobility in the 4th quarter valued at $86,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Surf Air Mobility in the third quarter valued at about $31,000. Jane Street Group LLC acquired a new position in shares of Surf Air Mobility during the fourth quarter worth about $99,000. Marshall Wace LLP purchased a new position in Surf Air Mobility during the fourth quarter worth about $375,000. Finally, Geode Capital Management LLC lifted its position in Surf Air Mobility by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock valued at $503,000 after purchasing an additional 4,215 shares during the period. Institutional investors and hedge funds own 17.68% of the company’s stock.

Surf Air Mobility Stock Down 20.3 %

NYSE:SRFM opened at $2.66 on Tuesday. Surf Air Mobility has a 52-week low of $0.90 and a 52-week high of $6.72. The stock’s 50 day moving average price is $4.00 and its 200 day moving average price is $3.28. The company has a market capitalization of $44.99 million, a PE ratio of -0.17 and a beta of 2.50.

Surf Air Mobility (NYSE:SRFM) last announced its earnings results on Tuesday, March 18th. The company reported $0.59 EPS for the quarter. The business had revenue of $28.05 million during 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.