Surf Air Mobility Inc. (NYSE:SRFM) Given Consensus Recommendation of “Hold” by Brokerages

Surf Air Mobility Inc. (NYSE:SRFM) has been given an average recommendation of “Hold” by the five research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $3.3125.

SRFM has been the subject of a number of research reports. Alliance Global Partners initiated coverage on Surf Air Mobility in a research note on Friday, May 1st. They issued a “buy” rating and a $2.75 price objective for the company. Canaccord Genuity Group set a $1.50 price objective on Surf Air Mobility in a research note on Wednesday, May 13th. Wall Street Zen upgraded Surf Air Mobility from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Northland Securities started coverage on shares of Surf Air Mobility in a report on Thursday, May 7th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Weiss Ratings cut shares of Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th.

Surf Air Mobility Trading Up 0.4%

Shares of NYSE SRFM opened at $1.25 on Monday. Surf Air Mobility has a twelve month low of $1.01 and a twelve month high of $9.91. The stock has a 50 day moving average of $1.22 and a two-hundred day moving average of $1.85. The stock has a market cap of $125.00 million, a P/E ratio of -0.47 and a beta of 2.75.

Insider Transactions at Surf Air Mobility

In other news, CEO Deanna Leigh White sold 56,884 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1.31, for a total value of $74,518.04. Following the completion of the sale, the chief executive officer directly owned 899,130 shares of the company’s stock, valued at approximately $1,177,860.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Oliver Reeves sold 76,569 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1.31, for a total transaction of $100,305.39. Following the completion of the sale, the chief financial officer directly owned 470,816 shares of the company’s stock, valued at $616,768.96. The trade was a 13.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 190,047 shares of company stock valued at $248,962 over the last ninety days. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Surf Air Mobility

Several large investors have recently modified their holdings of the stock. J. Derek Lewis & Associates Inc. raised its stake in shares of Surf Air Mobility by 84.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 293,000 shares of the company’s stock worth $337,000 after purchasing an additional 134,000 shares during the last quarter. Balefire LLC purchased a new position in Surf Air Mobility during the first quarter worth about $376,000. Bank of New York Mellon Corp purchased a new position in Surf Air Mobility during the first quarter worth about $26,000. Aristides Capital LLC purchased a new position in Surf Air Mobility during the fourth quarter worth about $195,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Surf Air Mobility during the fourth quarter worth about $127,000. Hedge funds and other institutional investors own 17.68% of the company’s stock.

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.