Surf Air Mobility (NYSE:SRFM) Given New $2.20 Price Target at Canaccord Genuity Group

Surf Air Mobility (NYSE:SRFM) had its price target hoisted by Canaccord Genuity Group from $1.00 to $2.20 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research analysts have also commented on the company. Sanford C. Bernstein reiterated a market perform rating and set a $2.80 price target (down from $25.34) on shares of Surf Air Mobility in a report on Tuesday, May 28th. Canaccord Genuity Group downgraded shares of Surf Air Mobility from a buy rating to a hold rating and reduced their price target for the company from $17.50 to $7.00 in a report on Wednesday, May 15th.

Surf Air Mobility Stock Performance

NYSE SRFM opened at $1.30 on Tuesday. The stock has a 50-day simple moving average of $2.26 and a 200 day simple moving average of $3.86. Surf Air Mobility has a twelve month low of $1.29 and a twelve month high of $17.50. The stock has a market capitalization of $107.95 million and a PE ratio of -0.20.

Institutional Investors Weigh In On Surf Air Mobility

An institutional investor recently raised its position in Surf Air Mobility stock. Ieq Capital LLC increased its holdings in shares of Surf Air Mobility Inc. (NYSE:SRFM) by 75.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,762 shares of the company’s stock after acquiring an additional 15,755 shares during the period. Ieq Capital LLC’s holdings in Surf Air Mobility were worth $57,000 at the end of the most recent reporting period. 17.68% of the stock is owned by 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.