Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Down 15.3% in March

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 841,100 shares, a decline of 15.3% from the February 28th total of 993,400 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily volume of 410,500 shares, the short-interest ratio is currently 2.0 days.

Surf Air Mobility Stock Performance

SRFM traded down $0.10 on Wednesday, hitting $2.56. 241,973 shares of the company were exchanged, compared to its average volume of 414,209. The firm has a fifty day simple moving average of $3.98 and a two-hundred day simple moving average of $3.28. The stock has a market capitalization of $43.38 million, a PE ratio of -0.16 and a beta of 2.50. Surf Air Mobility has a 12 month low of $0.90 and a 12 month high of $6.72.

Surf Air Mobility (NYSE:SRFM) last released its quarterly earnings data on Tuesday, March 18th. The company reported $0.59 earnings per share (EPS) for the quarter. The firm had revenue of $28.05 million during the quarter.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised shares of Surf Air Mobility from a “hold” rating to a “buy” rating and decreased their price target for the stock from $3.75 to $3.25 in a report on Wednesday. HC Wainwright began coverage on Surf Air Mobility in a research note on Friday, March 7th. They issued a “buy” rating and a $12.00 target price on the stock.

Insider Activity

In other news, Director Tyler Painter sold 25,417 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $3.65, for a total transaction of $92,772.05. Following the completion of the transaction, the director now owns 40,765 shares of the company’s stock, valued at approximately $148,792.25. The trade was a 38.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Surf Air Mobility

Several large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in shares of Surf Air Mobility in the 4th quarter worth approximately $63,000. Brave Asset Management Inc. bought a new position in shares of Surf Air Mobility in the 4th quarter worth about $86,000. Jane Street Group LLC purchased a new position in Surf Air Mobility during the 4th quarter valued at about $99,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Surf Air Mobility in the third quarter worth about $31,000. Finally, Marshall Wace LLP purchased a new position in shares of Surf Air Mobility during the fourth quarter valued at approximately $375,000. Institutional investors own 17.68% of the company’s stock.

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.