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

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 7,654,905 shares, a growth of 49.3% from the November 30th total of 5,128,662 shares. Approximately 13.3% of the company’s shares are short sold. Based on an average daily volume of 3,330,937 shares, the short-interest ratio is currently 2.3 days. Based on an average daily volume of 3,330,937 shares, the short-interest ratio is currently 2.3 days. Approximately 13.3% of the company’s shares are short sold.

Surf Air Mobility Trading Down 4.2%

NYSE:SRFM traded down $0.09 during trading hours on Monday, hitting $1.95. The company had a trading volume of 1,772,346 shares, compared to its average volume of 3,315,762. Surf Air Mobility has a 1 year low of $1.77 and a 1 year high of $9.91. The company has a market cap of $121.74 million, a P/E ratio of -0.78 and a beta of 3.05. The company has a 50-day moving average of $2.76 and a 200 day moving average of $3.83.

Surf Air Mobility (NYSE:SRFM) last posted its earnings results on Wednesday, November 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.03). The business had revenue of $29.17 million during the quarter.

Hedge Funds Weigh In On Surf Air Mobility

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 valued at $8,093,000 after buying an additional 1,320,353 shares during the period. Raymond James Financial Inc. raised its position in shares of Surf Air Mobility by 81,240.1% during the 3rd quarter. Raymond James Financial Inc. now owns 952,492 shares of the company’s stock worth $4,086,000 after acquiring an additional 951,321 shares in the last quarter. HRT Financial LP purchased a new stake in shares of Surf Air Mobility during the 2nd quarter worth approximately $2,212,000. Millennium Management LLC lifted its position in Surf Air Mobility by 3,450.8% in 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 during the last quarter. Finally, UBS Group AG boosted its position in shares of Surf Air Mobility by 246.3% in the 3rd quarter. UBS Group AG now owns 447,260 shares of the company’s stock valued at $1,919,000 after purchasing an additional 318,108 shares during the period. 17.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Surf Air Mobility in a research report on Wednesday, October 8th. Canaccord Genuity Group reduced 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. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.50.

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.