Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Up 30.6% in September

Surf Air Mobility Inc. (NYSE:SRFM) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 495,600 shares, a growth of 30.6% from the September 15th total of 379,400 shares. Based on an average daily trading volume, of 218,900 shares, the short-interest ratio is presently 2.3 days. Approximately 5.5% of the company’s stock are sold short.

Analyst Ratings Changes

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

Surf Air Mobility Trading Down 7.5 %

SRFM stock traded down $0.15 during trading on Tuesday, reaching $1.84. The stock had a trading volume of 515,476 shares, compared to its average volume of 301,194. The firm has a market cap of $23.61 million, a PE ratio of -0.08 and a beta of 1.53. The stock’s 50 day moving average is $1.57 and its two-hundred day moving average is $2.49. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $11.83.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($1.96) earnings per share 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 analysts’ expectations of $30.15 million. On average, research analysts anticipate that Surf Air Mobility will post -7.07 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Palantir Technologies Inc. purchased 1,270,869 shares of Surf Air Mobility stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $1.25 per share, with a total value of $1,588,586.25. Following the completion of the transaction, the insider now directly owns 2,730,166 shares of the company’s stock, valued at approximately $3,412,707.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 36,551 shares of company stock valued at $48,344. Insiders own 8.10% of the company’s stock.

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.