Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Down 17.6% in October

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

Insider Transactions at Surf Air Mobility

In related news, major shareholder Palantir Technologies Inc. purchased 1,270,869 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $1,588,586.25. Following the purchase, the insider now directly owns 2,730,166 shares of the company’s stock, valued at $3,412,707.50. The trade was a 87.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 36,551 shares of company stock valued at $48,344. 8.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new stake in Surf Air Mobility Inc. (NYSE:SRFM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned 0.18% of Surf Air Mobility as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 17.68% of the company’s stock.

Surf Air Mobility Stock Performance

NYSE SRFM traded down $0.08 during trading on Friday, reaching $1.64. The company’s stock had a trading volume of 265,390 shares, compared to its average volume of 298,145. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $11.83. The firm has a market cap of $21.04 million, a price-to-earnings ratio of -0.07 and a beta of 0.93. The business’s fifty day moving average price is $1.70 and its 200-day moving average price is $2.09.

Surf Air Mobility (NYSE:SRFM) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.56). The business had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $30.15 million. As a group, sell-side analysts forecast that Surf Air Mobility will post -7.07 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.