Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 40.7% in January

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

Surf Air Mobility Stock Up 0.8%

NYSE SRFM opened at $2.00 on Friday. The company’s 50 day moving average is $2.29 and its 200-day moving average is $3.35. The firm has a market cap of $124.87 million, a P/E ratio of -0.80 and a beta of 3.03. Surf Air Mobility has a 12-month low of $1.77 and a 12-month high of $9.91.

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

Institutional Trading of Surf Air Mobility

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Surf Air Mobility by 233.2% in the 3rd 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 during the period. Raymond James Financial Inc. lifted its holdings in shares of Surf Air Mobility by 81,240.1% in the third 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 bought a new position in shares of Surf Air Mobility in the second quarter valued at approximately $2,212,000. Geode Capital Management LLC boosted its position in shares of Surf Air Mobility by 103.6% in the fourth quarter. Geode Capital Management LLC now owns 552,374 shares of the company’s stock valued at $1,072,000 after acquiring an additional 281,045 shares during the period. Finally, Millennium Management LLC grew its stake in Surf Air Mobility by 3,450.8% during the third quarter. Millennium Management LLC now owns 488,272 shares of the company’s stock valued at $2,095,000 after acquiring an additional 474,521 shares in the last quarter. 17.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group decreased their price target 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 reissued a “sell (d-)” rating on shares of Surf Air Mobility in a research 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 company’s stock. According to MarketBeat, Surf Air Mobility has an average rating of “Hold” and a consensus target price of $6.50.

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.