Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Drops By 15.0%

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 379,400 shares, a drop of 15.0% from the August 31st total of 446,300 shares. Approximately 3.9% of the shares of the stock are sold short. Based on an average trading volume of 139,300 shares, the days-to-cover ratio is currently 2.7 days.

Surf Air Mobility Stock Performance

Shares of NYSE:SRFM opened at $1.33 on Friday. The firm has a market cap of $17.06 million, a price-to-earnings ratio of -0.21 and a beta of 1.50. The firm has a fifty day moving average price of $1.62 and a 200 day moving average price of $2.84. Surf Air Mobility has a fifty-two week low of $0.90 and a fifty-two week high of $13.08.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.56). The firm had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $30.15 million. As a group, research analysts predict that Surf Air Mobility will post -7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their price objective on Surf Air Mobility from $1.00 to $2.20 and gave the stock a “hold” rating in a research note on Tuesday, August 27th.

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.