Canaccord Genuity Group Lowers Surf Air Mobility (NYSE:SRFM) Price Target to $3.75

Surf Air Mobility (NYSE:SRFM) had its price objective decreased by Canaccord Genuity Group from $4.00 to $3.75 in a research report sent to investors on Thursday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Separately, HC Wainwright started coverage on Surf Air Mobility in a research note on Friday, March 7th. They issued a “buy” rating and a $12.00 target price for the company.

Surf Air Mobility Stock Up 1.2 %

Shares of NYSE SRFM opened at $3.74 on Thursday. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $7.14. The business has a 50-day simple moving average of $4.06 and a two-hundred day simple moving average of $3.17. The company has a market cap of $63.40 million, a P/E ratio of -0.24 and a beta of 2.50.

Surf Air Mobility (NYSE:SRFM) last issued its earnings results on Tuesday, March 18th. The company reported $0.59 EPS for the quarter. The company had revenue of $28.05 million during the quarter.

Insider Activity

In other Surf Air Mobility news, Director Sudhin Shahani purchased 17,237 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $3.43 per share, for a total transaction of $59,122.91. Following the transaction, the director now owns 360,877 shares in the company, valued at $1,237,808.11. The trade was a 5.02 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Surf Air Mobility

A number of large investors have recently modified their holdings of SRFM. Marshall Wace LLP purchased a new position in shares of Surf Air Mobility during the 4th quarter valued at about $375,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Surf Air Mobility during the 3rd quarter valued at about $31,000. Jane Street Group LLC purchased a new position in shares of Surf Air Mobility during the 4th quarter valued at about $99,000. Brave Asset Management Inc. purchased a new position in shares of Surf Air Mobility during the 4th quarter valued at about $86,000. Finally, XTX Topco Ltd purchased a new position in shares of Surf Air Mobility during the 4th quarter valued at about $63,000. 17.68% of the stock is owned by hedge funds and other institutional investors.

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.