Surf Air Mobility Inc. (NYSE:SRFM) Sees Significant Growth in Short Interest

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 5,601,528 shares, an increase of 40.7% from the January 15th total of 3,980,942 shares. Based on an average daily volume of 3,590,581 shares, the short-interest ratio is presently 1.6 days. Approximately 9.7% of the shares of the stock are short sold. Approximately 9.7% of the shares of the stock are short sold. Based on an average daily volume of 3,590,581 shares, the short-interest ratio is presently 1.6 days.

Surf Air Mobility Stock Performance

NYSE SRFM opened at $2.00 on Friday. The company has a market capitalization of $124.87 million, a P/E ratio of -0.80 and a beta of 3.03. Surf Air Mobility has a 52-week low of $1.77 and a 52-week high of $9.91. The company has a fifty day moving average of $2.29 and a 200-day moving average of $3.35.

Surf Air Mobility (NYSE:SRFM) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.03). The business had revenue of $29.17 million during the quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surf Air Mobility in a research report on Wednesday, January 21st. Canaccord Genuity Group lowered their price target on Surf Air Mobility from $3.75 to $3.50 and set a “hold” rating on the stock in a report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.50.

Institutional Trading of Surf Air Mobility

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Surf Air Mobility by 18,757.1% during the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock valued at $28,000 after acquiring an additional 6,565 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Surf Air Mobility by 7,157.9% in the 3rd quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after purchasing an additional 10,021 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Surf Air Mobility during the 3rd quarter valued at $47,000. J.W. Cole Advisors Inc. purchased a new position in Surf Air Mobility in the 3rd quarter worth $47,000. Finally, Private Advisor Group LLC bought a new stake in Surf Air Mobility in the third quarter worth $48,000. 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.