Surf Air Mobility (NYSE:SRFM) Earns “Hold” Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of Surf Air Mobility (NYSE:SRFM) in a report issued on Monday morning,Benzinga reports. They currently have a $2.20 target price on the stock.

Surf Air Mobility Stock Up 9.5 %

Shares of SRFM stock opened at $1.80 on Monday. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $11.83. The firm has a 50 day moving average of $1.72 and a 200-day moving average of $2.06.

Insider Activity

In other news, major shareholder Palantir Technologies Inc. acquired 1,270,869 shares of Surf Air Mobility stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $1.25 per share, with a total value of $1,588,586.25. Following the completion of the purchase, the insider now owns 2,730,166 shares of the company’s stock, valued at approximately $3,412,707.50. The trade was a 87.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 36,551 shares of company stock worth $48,344. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Surf Air Mobility

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Surf Air Mobility Inc. (NYSE:SRFM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned approximately 0.18% of Surf Air Mobility at the end of the most recent quarter. 17.68% of the stock is currently owned by hedge funds and other institutional investors.

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.