Surf Air Mobility Inc. (NYSE:SRFM) Major Shareholder Palantir Technologies Inc. Sells 8,300 Shares of Stock

Surf Air Mobility Inc. (NYSE:SRFM) major shareholder Palantir Technologies Inc. sold 8,300 shares of Surf Air Mobility stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $1.50, for a total value of $12,450.00. Following the completion of the transaction, the insider now owns 1,515,122 shares of the company’s stock, valued at approximately $2,272,683. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Palantir Technologies Inc. also recently made the following trade(s):

• On Monday, September 16th, Palantir Technologies Inc. sold 6,673 shares of Surf Air Mobility stock. The shares were sold at an average price of $1.35, for a total value of $9,008.55.

Surf Air Mobility Trading Down 9.1 %

NYSE:SRFM opened at $1.35 on Tuesday. The stock has a 50 day moving average of $1.84 and a two-hundred day moving average of $3.20. Surf Air Mobility Inc. has a 12 month low of $0.90 and a 12 month high of $17.50. The firm has a market cap of $111.68 million, a P/E ratio of -0.21 and a beta of 1.50.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.56). The company had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $30.15 million. On average, research analysts forecast that Surf Air Mobility Inc. will post -7.07 earnings per share for the current year.

Institutional Investors Weigh In On Surf Air Mobility

A hedge fund recently raised its stake 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 fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,762 shares of the company’s stock after acquiring an additional 15,755 shares during the quarter. 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 currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SRFM. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.80 target price (down previously from $25.34) on shares of Surf Air Mobility in a research report on Tuesday, May 28th. Canaccord Genuity Group increased 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.

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.