Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Decreases By 27.2%

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 566,100 shares, a decrease of 27.2% from the December 15th total of 777,900 shares. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 5.2% of the shares of the company are sold short.

Insider Activity at Surf Air Mobility

In other news, Director Sudhin Shahani purchased 17,237 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the purchase, the director now directly owns 360,877 shares of the company’s stock, valued at approximately $1,237,808.11. The trade was a 5.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Brave Asset Management Inc. purchased a new stake in Surf Air Mobility Inc. (NYSE:SRFM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,000 shares of the company’s stock, valued at approximately $86,000. Brave Asset Management Inc. owned approximately 0.10% of Surf Air Mobility at the end of the most recent reporting period. Institutional investors own 17.68% of the company’s stock.

Analyst Ratings Changes

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

Surf Air Mobility Trading Down 1.8 %

NYSE SRFM traded down $0.07 on Wednesday, reaching $3.81. The company’s stock had a trading volume of 280,913 shares, compared to its average volume of 434,391. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $10.08. The firm has a market cap of $59.09 million, a PE ratio of -0.24 and a beta of 2.47. The business has a 50-day moving average price of $3.69 and a 200 day moving average price of $2.50.

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.