Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 59.5% in December

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 777,900 shares, an increase of 59.5% from the November 30th total of 487,700 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average daily volume of 941,800 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average price of $1.25 per share, with a total value of $1,588,586.25. Following the completion of the acquisition, the insider now directly owns 2,730,166 shares of the company’s stock, valued at approximately $3,412,707.50. The trade was a 87.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sudhin Shahani bought 17,237 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $3.43 per share, with a total value of $59,122.91. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd purchased a new position in Surf Air Mobility Inc. (NYSE:SRFM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned about 0.18% of Surf Air Mobility as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 17.68% of the company’s stock.

Surf Air Mobility Trading Up 2.2 %

Shares of NYSE:SRFM opened at $5.61 on Monday. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $11.83. The firm has a market cap of $87.00 million, a P/E ratio of -0.35 and a beta of 3.30. The company has a 50 day moving average of $2.92 and a 200-day moving average of $2.28.

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.