Surf Air Mobility Inc. (NYSE:SRFM) Sees Large Drop in Short Interest

Surf Air Mobility Inc. (NYSE:SRFM) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 379,400 shares, a drop of 15.0% from the August 31st total of 446,300 shares. Based on an average trading volume of 139,300 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.9% of the shares of the company are short sold.

Surf Air Mobility Price Performance

NYSE:SRFM traded up $0.09 during midday trading on Friday, reaching $1.33. 76,823 shares of the company traded hands, compared to its average volume of 105,732. The firm has a market capitalization of $17.06 million, a price-to-earnings ratio of -0.21 and a beta of 1.50. The company has a fifty day moving average price of $1.62 and a 200 day moving average price of $2.87. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $13.08.

Surf Air Mobility (NYSE:SRFM) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.56). The company had revenue of $32.37 million for the quarter, compared to analyst estimates of $30.15 million. On average, equities research analysts forecast that Surf Air Mobility will post -7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their price objective on shares of Surf Air Mobility from $1.00 to $2.20 and gave the company a “hold” rating in a research report on Tuesday, August 27th.

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.