Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Update

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 641,600 shares, a drop of 17.6% from the October 15th total of 779,000 shares. Based on an average daily volume of 807,300 shares, the short-interest ratio is presently 0.8 days. Approximately 7.1% of the company’s stock are short sold.

Surf Air Mobility Stock Performance

Shares of SRFM opened at $1.64 on Friday. Surf Air Mobility has a 12 month low of $0.90 and a 12 month high of $11.83. The stock has a fifty day moving average price of $1.71 and a 200 day moving average price of $2.07.

Surf Air Mobility (NYSE:SRFM) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.56). The firm had revenue of $32.37 million for the quarter, compared to analyst estimates of $30.15 million. On average, equities analysts forecast that Surf Air Mobility will post -7.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $1.25 per share, for a total transaction of $1,588,586.25. Following the completion of the purchase, the insider now directly owns 2,730,166 shares in the company, valued at approximately $3,412,707.50. This trade represents a 87.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 36,551 shares of company stock worth $48,344. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned about 0.18% of Surf Air Mobility at the end of the most recent quarter. 17.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their price objective on shares of Surf Air Mobility from $1.00 to $2.20 and gave the stock a “hold” rating in a research note on Tuesday, August 27th.

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.