Surf Air Mobility Inc. (NYSE:SRFM) Director Sells $92,772.05 in Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Tyler Painter sold 25,417 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $3.65, for a total value of $92,772.05. Following the completion of the sale, the director now directly owns 40,765 shares of the company’s stock, valued at $148,792.25. The trade was a 38.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Surf Air Mobility Price Performance

Shares of NYSE SRFM opened at $3.35 on Monday. The stock has a fifty day moving average price of $4.03 and a 200 day moving average price of $3.27. Surf Air Mobility Inc. has a 1-year low of $0.90 and a 1-year high of $6.72. The company has a market cap of $56.69 million, a PE ratio of -0.21 and a beta of 2.50.

Surf Air Mobility (NYSE:SRFM) last released its earnings results on Tuesday, March 18th. The company reported $0.59 EPS for the quarter. The firm had revenue of $28.05 million during the quarter.

Institutional Investors Weigh In On Surf Air Mobility

A number of institutional investors have recently added to or reduced their stakes in SRFM. Geode Capital Management LLC lifted its holdings in shares of Surf Air Mobility by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock valued at $503,000 after buying an additional 4,215 shares during the period. XTX Topco Ltd purchased a new position in Surf Air Mobility in the fourth quarter worth $63,000. Brave Asset Management Inc. acquired a new stake in Surf Air Mobility in the fourth quarter valued at $86,000. Jane Street Group LLC acquired a new stake in Surf Air Mobility in the fourth quarter valued at $99,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Surf Air Mobility during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 17.68% of the company’s stock.

Wall Street Analyst Weigh In

SRFM has been the subject of several research reports. Canaccord Genuity Group reduced their price target on shares of Surf Air Mobility from $4.00 to $3.75 and set a “hold” rating for the company in a research report on Thursday, March 20th. HC Wainwright initiated coverage on shares of Surf Air Mobility in a research note on Friday, March 7th. They set a “buy” rating and a $12.00 target price for the company.

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.