Surf Air Mobility Inc. (NYSE:SRFM) Short Interest Down 34.8% in July

Key Points

• Short interest in Surf Air Mobility Inc. decreased by 34.8% in July, with a current total of 2,620,000 shares, representing 13.7% of the company's stock sold short.
• Analysts have recently upgraded Surf Air Mobility's target price, with Canaccord Genuity increasing it to $3.75 and Piper Sandler to $4.00, while the consensus target price stands at $6.58.
• The company reported a quarterly EPS of ($0.93), exceeding analyst expectations, and generated $27.43 million in revenue for the quarter.

Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 2,620,000 shares, adecreaseof34.8% from the July 15th total of 4,020,000 shares. Approximately13.7% of the shares of the company are sold short. Based on an average daily volume of 7,880,000 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 7,880,000 shares, the short-interest ratio is currently 0.3 days. Approximately13.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler upped their price objective on Surf Air Mobility from $3.00 to $4.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. Canaccord Genuity Group increased their price target on Surf Air Mobility from $3.00 to $3.75 and gave the stock a "hold" rating in a research note on Monday, August 18th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $6.58.

Insider Buying and Selling at Surf Air Mobility

In other news, Director Tyler Painter sold 22,000 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $5.00, for a total value of $110,000.00. Following the completion of the sale, the director directly owned 182 shares in the company, valued at $910. This represents a 99.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sudhin Shahani sold 75,840 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $2.43, for a total value of $184,291.20. Following the completion of the sale, the director owned 549,578 shares of the company's stock, valued at $1,335,474.54. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,423 shares of company stock valued at $368,623 over the last 90 days. 8.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Surf Air Mobility by 1,235.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 19,009 shares of the company's stock valued at $70,000 after purchasing an additional 17,586 shares during the last quarter. HRT Financial LP bought a new position in shares of Surf Air Mobility during the 2nd quarter valued at about $2,212,000. DNB Asset Management AS bought a new position in shares of Surf Air Mobility during the 2nd quarter valued at about $287,000. Geode Capital Management LLC boosted its holdings in shares of Surf Air Mobility by 14.6% during the 2nd quarter. Geode Capital Management LLC now owns 127,602 shares of the company's stock valued at $471,000 after purchasing an additional 16,273 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Surf Air Mobility by 44.6% during the 1st quarter. XTX Topco Ltd now owns 16,906 shares of the company's stock valued at $45,000 after purchasing an additional 5,214 shares during the last quarter. Institutional investors own 17.68% of the company's stock.

Surf Air Mobility Stock Up 5.4%

SRFM stock traded up $0.2370 during trading on Friday, reaching $4.6370. The company's stock had a trading volume of 1,908,355 shares, compared to its average volume of 3,158,918. Surf Air Mobility has a 1 year low of $0.90 and a 1 year high of $9.91. The company has a market capitalization of $198.60 million, a P/E ratio of -1.67 and a beta of 2.92. The company's fifty day moving average is $4.41 and its 200-day moving average is $3.52.

Surf Air Mobility (NYSE:SRFM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.09) by $0.16. The business had revenue of $27.43 million during the quarter, compared to analysts' expectations of $25.90 million. Surf Air Mobility has set its Q3 2025 guidance at EPS.

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.