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

Surf Air Mobility (NYSE:SRFM) had its target price lifted by Canaccord Genuity Group from $2.20 to $4.00 in a report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 4.71% from the stock’s previous close.

Surf Air Mobility Price Performance

Surf Air Mobility stock opened at $3.82 on Friday. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $11.83. The company’s 50-day moving average is $2.55 and its 200 day moving average is $2.16. The firm has a market capitalization of $59.25 million, a P/E ratio of -0.24 and a beta of 3.30.

Insider Activity at Surf Air Mobility

In related news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of Surf Air Mobility stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $1.25 per share, with a total value of $1,588,586.25. Following the completion of the transaction, the insider now owns 2,730,166 shares in the company, valued at $3,412,707.50. The trade was a 87.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 28,251 shares of company stock worth $35,894 in the last quarter. 8.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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. Institutional investors and hedge funds 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.