Surf Air Mobility (NYSE:SRFM) Given New $2.50 Price Target at Canaccord Genuity Group

Surf Air Mobility (NYSE:SRFM) had its price objective decreased by Canaccord Genuity Group from $3.00 to $2.50 in a research report sent to investors on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Surf Air Mobility Price Performance

Surf Air Mobility stock opened at $0.75 on Monday. Surf Air Mobility has a twelve month low of $0.65 and a twelve month high of $5.00. The company’s 50-day moving average price is $1.05 and its two-hundred day moving average price is $1.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.27 and a quick ratio of 0.27.

Institutional Investors Weigh In On Surf Air Mobility

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRFM. Tower Research Capital LLC TRC bought a new stake in shares of Surf Air Mobility in the third quarter worth $25,000. Ieq Capital LLC bought a new stake in Surf Air Mobility during the 3rd quarter valued at $34,000. Bank of New York Mellon Corp acquired a new position in Surf Air Mobility during the third quarter worth $38,000. Corient Private Wealth LLC boosted its holdings in Surf Air Mobility by 44.3% during the 4th quarter. Corient Private Wealth LLC now owns 44,902 shares of the company’s stock worth $70,000 after acquiring an additional 13,787 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Surf Air Mobility during the 3rd quarter valued at about $78,000. 17.68% of the stock is currently 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. It offers an air mobility platform with scheduled routes and on demand charter flights operated by third parties; and air cargo services. The company is headquartered in Hawthorne, California.