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

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 10,579,536 shares, a growth of 24.8% from the February 26th total of 8,477,928 shares. Approximately 14.9% of the company’s shares are short sold. Based on an average daily volume of 2,689,707 shares, the short-interest ratio is presently 3.9 days.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Surf Air Mobility in a research note on Wednesday, January 21st. Canaccord Genuity Group reduced their target price on Surf Air Mobility from $3.50 to $2.25 and set a “hold” rating on the stock in a report on Monday, March 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Surf Air Mobility currently has an average rating of “Hold” and an average price target of $3.13.

Surf Air Mobility Trading Up 8.2%

Surf Air Mobility stock traded up $0.09 during mid-day trading on Tuesday, hitting $1.15. The company had a trading volume of 2,120,362 shares, compared to its average volume of 2,490,864. Surf Air Mobility has a 12 month low of $1.04 and a 12 month high of $9.91. The stock’s 50 day moving average price is $1.88 and its two-hundred day moving average price is $2.79.

Hedge Funds Weigh In On Surf Air Mobility

A number of hedge funds have recently bought and sold shares of SRFM. Geode Capital Management LLC grew its position in Surf Air Mobility by 14.6% during the 2nd quarter. Geode Capital Management LLC now owns 127,602 shares of the company’s stock valued at $471,000 after purchasing an additional 16,273 shares during the last quarter. HRT Financial LP purchased a new position in Surf Air Mobility in the second quarter worth about $2,212,000. Tower Research Capital LLC TRC raised its holdings in Surf Air Mobility by 1,235.8% in the second quarter. Tower Research Capital LLC TRC now owns 19,009 shares of the company’s stock worth $70,000 after buying an additional 17,586 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Surf Air Mobility by 669.8% in the second quarter. Osaic Holdings Inc. now owns 17,244 shares of the company’s stock worth $64,000 after buying an additional 15,004 shares in the last quarter. Finally, Brave Asset Management Inc. lifted its stake in shares of Surf Air Mobility by 150.0% in the third quarter. Brave Asset Management Inc. now owns 25,000 shares of the company’s stock worth $107,000 after buying an additional 15,000 shares in the last quarter. Institutional investors own 17.68% of the company’s stock.

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.