Surf Air Mobility’s (SRFM) “Hold” Rating Reiterated at Canaccord Genuity Group

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

Surf Air Mobility Trading Down 6.4 %

SRFM opened at $2.05 on Monday. The company has a market cap of $31.80 million, a price-to-earnings ratio of -0.13 and a beta of 0.93. The company’s fifty day moving average price is $1.75 and its two-hundred day moving average price is $2.05. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $11.83.

Insider Activity

In other news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $1.25 per share, for a total transaction of $1,588,586.25. Following the completion of the acquisition, the insider now directly owns 2,730,166 shares in the company, valued at approximately $3,412,707.50. This trade represents a 87.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 36,551 shares of company stock worth $48,344 over the last 90 days. 8.10% of the stock is currently owned by corporate insiders.

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 position in shares of Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 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 at the end of the most recent quarter. 17.68% of the stock is currently owned by institutional investors.

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.