Surf Air Mobility (NYSE:SRFM) Trading Up 3.7% – Still a Buy?

Surf Air Mobility Inc. (NYSE:SRFM) traded up 3.7% on Thursday . The company traded as high as $2.66 and last traded at $2.51. 3,192,444 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 5,035,460 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Surf Air Mobility from $3.75 to $3.50 and set a “hold” rating for the company in a report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Surf Air Mobility in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.50.

Surf Air Mobility Stock Up 3.7%

The firm has a market capitalization of $157.10 million, a P/E ratio of -1.01 and a beta of 3.03. The business’s 50 day moving average is $2.32 and its two-hundred day moving average is $3.79.

Surf Air Mobility (NYSE:SRFM) last announced its earnings results on Wednesday, November 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.03). The company had revenue of $29.17 million for the quarter.

Institutional Investors Weigh In On Surf Air Mobility

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Surf Air Mobility by 18,757.1% in the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock worth $28,000 after purchasing an additional 6,565 shares during the period. Bank of America Corp DE increased its position in shares of Surf Air Mobility by 7,157.9% during the 3rd quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after purchasing an additional 10,021 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Surf Air Mobility in the 3rd quarter worth $47,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Surf Air Mobility in the third quarter valued at $47,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Surf Air Mobility in the third quarter valued at $48,000. Institutional investors own 17.68% of the company’s stock.

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.