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

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 3,980,942 shares, a drop 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 daily trading volume, of 7,140,379 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 7,140,379 shares, the days-to-cover ratio is currently 0.6 days. Currently, 6.9% of the company’s shares are sold short.

Surf Air Mobility Stock Down 4.7%

SRFM traded down $0.10 during trading on Friday, hitting $2.02. The company had a trading volume of 2,637,493 shares, compared to its average volume of 4,842,447. The company has a market capitalization of $126.43 million, a PE ratio of -0.81 and a beta of 3.03. The firm’s 50-day moving average price is $2.31 and its 200 day moving average price is $3.57. Surf Air Mobility has a one year low of $1.77 and a one year high of $9.91.

Surf Air Mobility (NYSE:SRFM) last posted its quarterly earnings data 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 during the quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of Surf Air Mobility from $3.75 to $3.50 and set a “hold” rating for the company in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surf Air Mobility in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Surf Air Mobility presently has an average rating of “Hold” and a consensus price target of $6.50.

Institutional Investors Weigh In On Surf Air Mobility

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Surf Air Mobility by 18,757.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock valued at $28,000 after purchasing an additional 6,565 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Surf Air Mobility by 7,157.9% in the third quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after acquiring an additional 10,021 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Surf Air Mobility during the third quarter worth approximately $47,000. Jefferies Financial Group Inc. bought a new position in Surf Air Mobility during the 3rd quarter worth $47,000. Finally, Private Advisor Group LLC bought a new position in shares of Surf Air Mobility in the third quarter worth $48,000. Institutional investors and hedge funds own 17.68% of the company’s stock.

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.