Surf Air Mobility’s (SRFM) “Hold” Rating Reaffirmed at Canaccord Genuity Group

Surf Air Mobility (NYSE:SRFM)‘s stock had its “hold” rating reiterated by investment analysts at Canaccord Genuity Group in a report issued on Monday,Benzinga reports. They presently have a $2.20 price target on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 0.46% from the company’s current price.

Surf Air Mobility Price Performance

Shares of SRFM opened at $2.19 on Monday. The stock has a market capitalization of $33.97 million, a PE ratio of -0.14 and a beta of 0.93. The business’s fifty day moving average price is $1.74 and its 200 day moving average price is $2.05. Surf Air Mobility has a 12-month low of $0.90 and a 12-month high of $11.83.

Insider Activity

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

Institutional Trading of Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd purchased a new stake in Surf Air Mobility Inc. (NYSE:SRFM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 17.68% of the company’s stock.

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.