Surf Air Mobility (NYSE:SRFM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Surf Air Mobility (NYSE:SRFM) had its price objective lifted by research analysts at Canaccord Genuity Group from $2.20 to $4.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock.

Surf Air Mobility Trading Up 4.7 %

SRFM opened at $4.00 on Friday. The stock’s fifty day simple moving average is $2.59 and its 200 day simple moving average is $2.17. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $11.83. The stock has a market cap of $62.04 million, a PE ratio of -0.25 and a beta of 3.30.

Insider Transactions at Surf Air Mobility

In other news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $1.25 per share, for a total transaction of $1,588,586.25. Following the completion of the purchase, the insider now owns 2,730,166 shares in the company, valued at approximately $3,412,707.50. This trade represents a 87.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 28,251 shares of company stock worth $35,894. 8.10% of the stock is owned by insiders.

Institutional Trading of Surf Air Mobility

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd bought a new stake in Surf Air Mobility Inc. (NYSE:SRFM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned 0.18% of Surf Air Mobility as of its most recent filing with the Securities and Exchange Commission (SEC). 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.