Canaccord Genuity Group Reaffirms Hold Rating for Surf Air Mobility (NYSE:SRFM)

Surf Air Mobility (NYSE:SRFM)‘s stock had its “hold” rating reiterated by research analysts at Canaccord Genuity Group in a research note issued to investors on Monday,Benzinga reports. They presently have a $2.20 target price on the stock. Canaccord Genuity Group’s price target points to a potential upside of 30.25% from the stock’s previous close.

Surf Air Mobility Price Performance

SRFM stock opened at $1.69 on Monday. The business has a fifty day moving average price of $1.71 and a 200 day moving average price of $2.06. Surf Air Mobility has a fifty-two week low of $0.90 and a fifty-two week high of $11.83. The stock has a market capitalization of $21.67 million, a price-to-earnings ratio of -0.11 and a beta of 0.93.

Insider Activity at Surf Air Mobility

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. purchased 1,270,869 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $1.25 per share, with a total value of $1,588,586.25. Following the acquisition, the insider now directly owns 2,730,166 shares of the company’s stock, valued at approximately $3,412,707.50. This trade represents a 87.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders sold 36,551 shares of company stock valued at $48,344 in the last three months. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Surf Air Mobility

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

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.