Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Grows By 37.7%

Surf Air Mobility Inc. (NYSE:SRFM) saw a significant increase in short interest in February. As of February 13th, there was short interest totaling 7,712,576 shares, an increase of 37.7% from the January 29th total of 5,601,528 shares. Based on an average daily trading volume, of 2,409,062 shares, the short-interest ratio is currently 3.2 days. Approximately 13.4% of the company’s shares are sold short. Approximately 13.4% of the company’s shares are sold short. Based on an average daily trading volume, of 2,409,062 shares, the short-interest ratio is currently 3.2 days.

Institutional Investors Weigh In On Surf Air Mobility

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRFM. Aristides Capital LLC acquired a new position in Surf Air Mobility during the 4th quarter valued at approximately $195,000. Susquehanna Fundamental Investments LLC purchased a new position in Surf Air Mobility in the fourth quarter valued at $127,000. Quadrature Capital Ltd boosted its stake in shares of Surf Air Mobility by 22.6% during the 4th quarter. Quadrature Capital Ltd now owns 90,015 shares of the company’s stock worth $175,000 after acquiring an additional 16,593 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of Surf Air Mobility by 216.4% during the 4th quarter. Engineers Gate Manager LP now owns 50,720 shares of the company’s stock valued at $98,000 after acquiring an additional 34,692 shares during the period. Finally, 683 Capital Management LLC acquired a new position in Surf Air Mobility in the 4th quarter worth about $394,000. 17.68% of the stock is currently owned by hedge funds and other institutional investors.

Surf Air Mobility Stock Performance

NYSE SRFM traded up $0.01 on Monday, reaching $1.96. 1,639,900 shares of the stock traded hands, compared to its average volume of 3,633,789. Surf Air Mobility has a 12 month low of $1.77 and a 12 month high of $9.91. The company has a market cap of $122.68 million, a price-to-earnings ratio of -0.79 and a beta of 3.03. The company has a fifty day moving average price of $2.28 and a 200-day moving average price of $3.19.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SRFM. Weiss Ratings reissued a “sell (d-)” rating on shares of Surf Air Mobility in a research report on Wednesday, January 21st. Canaccord Genuity Group cut their price objective on Surf Air Mobility from $3.75 to $3.50 and set a “hold” rating for the company in a research report on Friday, November 14th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Surf Air Mobility currently has a consensus rating of “Hold” and an average 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.