Short Interest in Surf Air Mobility Inc. (NYSE:SRFM) Expands By 37.7%

Surf Air Mobility Inc. (NYSE:SRFM) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 7,712,576 shares, an increase of 37.7% from the January 29th total of 5,601,528 shares. Currently, 13.4% of the company’s shares are short sold. Based on an average daily volume of 2,409,062 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 2,409,062 shares, the short-interest ratio is currently 3.2 days. Currently, 13.4% of the company’s shares are short sold.

Surf Air Mobility Stock Up 4.0%

Shares of NYSE:SRFM traded up $0.08 during trading on Wednesday, hitting $1.94. 959,304 shares of the stock traded hands, compared to its average volume of 3,547,385. The company has a market cap of $121.11 million, a price-to-earnings ratio of -0.78 and a beta of 3.01. 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 price of $2.27 and a two-hundred day moving average price of $3.15.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Surf Air Mobility by 18,757.1% during the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock worth $28,000 after acquiring an additional 6,565 shares during the period. Bank of America Corp DE grew its position in 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 purchasing an additional 10,021 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Surf Air Mobility in the third quarter valued at approximately $47,000. Jefferies Financial Group Inc. acquired a new stake in shares of Surf Air Mobility in the 3rd quarter worth $47,000. Finally, Private Advisor Group LLC acquired a new position in Surf Air Mobility during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 17.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Surf Air Mobility in a research report on Wednesday, January 21st. 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 report on Friday, November 14th. Two equities 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 company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.50.

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.