Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 40.7% in January

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a significant increase in short interest in 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. Currently, 9.7% of the company’s stock are short sold. Based on an average trading volume of 3,590,581 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 3,590,581 shares, the short-interest ratio is presently 1.6 days. Currently, 9.7% of the company’s stock are short sold.

Analyst Ratings Changes

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

Surf Air Mobility Price Performance

NYSE:SRFM opened at $2.00 on Tuesday. The firm has a market capitalization of $124.87 million, a PE ratio of -0.80 and a beta of 3.03. The business’s fifty day moving average price is $2.28 and its 200 day moving average price is $3.33. Surf Air Mobility has a 12 month low of $1.77 and a 12 month high of $9.91.

Institutional Investors Weigh In On Surf Air Mobility

Several hedge funds and other institutional investors have recently made changes to their positions in SRFM. JPMorgan Chase & Co. boosted its holdings in Surf Air Mobility by 18,757.1% in the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock valued at $28,000 after purchasing an additional 6,565 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Surf Air Mobility by 7,157.9% during the 3rd quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock worth $44,000 after buying an additional 10,021 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Surf Air Mobility during the 3rd quarter worth approximately $47,000. J.W. Cole Advisors Inc. acquired a new position in shares of Surf Air Mobility in the 3rd quarter valued at $47,000. Finally, Private Advisor Group LLC purchased a new position in shares of Surf Air Mobility in the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 17.68% of the company’s stock.

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.