Surf Air Mobility Inc. (NYSE:SRFM – Get Free Report) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 598,400 shares, a growth of 45.2% from the January 15th total of 412,100 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 530,100 shares, the days-to-cover ratio is presently 1.1 days.
Insider Activity
In other Surf Air Mobility news, Director Sudhin Shahani purchased 17,237 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $3.43 per share, for a total transaction of $59,122.91. Following the transaction, the director now owns 360,877 shares in the company, valued at $1,237,808.11. The trade was a 5.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.10% of the company’s stock.
Hedge Funds Weigh In On Surf Air Mobility
Several large investors have recently modified their holdings of SRFM. Jane Street Group LLC bought a new position in shares of Surf Air Mobility in the fourth quarter valued at approximately $99,000. Marshall Wace LLP bought a new stake in Surf Air Mobility during the fourth quarter valued at approximately $375,000. XTX Topco Ltd bought a new stake in Surf Air Mobility during the fourth quarter valued at approximately $63,000. Geode Capital Management LLC lifted its position in Surf Air Mobility by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock valued at $503,000 after purchasing an additional 4,215 shares during the last quarter. Finally, Brave Asset Management Inc. bought a new stake in Surf Air Mobility during the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 17.68% of the company’s stock.
Surf Air Mobility Stock Down 7.7 %
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group increased their price objective on shares of Surf Air Mobility from $2.20 to $4.00 and gave the stock a “hold” rating in a research report on Friday, December 13th.
Read Our Latest Analysis on Surf Air Mobility
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.
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