Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Increases By 59.5%

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 777,900 shares, a growth of 59.5% from the November 30th total of 487,700 shares. Based on an average daily volume of 941,800 shares, the days-to-cover ratio is currently 0.8 days. Approximately 7.1% of the shares of the company are sold short.

Analyst Ratings Changes

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

Surf Air Mobility Trading Up 2.2 %

SRFM stock opened at $5.61 on Friday. Surf Air Mobility has a 12-month low of $0.90 and a 12-month high of $11.83. The business’s 50-day moving average is $2.92 and its 200 day moving average is $2.27. The stock has a market cap of $87.00 million, a price-to-earnings ratio of -0.35 and a beta of 3.30.

Insider Transactions at Surf Air Mobility

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. purchased 1,270,869 shares of Surf Air Mobility stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $1.25 per share, with a total value of $1,588,586.25. Following the acquisition, the insider now 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sudhin Shahani acquired 17,237 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the acquisition, the director now owns 360,877 shares of the company’s stock, valued at $1,237,808.11. This trade represents a 5.02 % increase in their position. 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

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new stake in Surf Air Mobility Inc. (NYSE:SRFM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned about 0.18% of Surf Air Mobility as of its most recent filing with the SEC. 17.68% of the stock is currently owned by institutional investors.

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.