Surf Air Mobility (NYSE:SRFM) Receives Hold Rating from Canaccord Genuity Group

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

Surf Air Mobility Trading Up 21.0 %

Shares of SRFM opened at $2.48 on Monday. The firm has a market cap of $38.46 million, a price-to-earnings ratio of -0.16 and a beta of 0.93. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $11.83. The stock has a 50 day moving average of $1.77 and a 200-day moving average of $2.05.

Insider Activity

In other news, major shareholder Palantir Technologies Inc. purchased 1,270,869 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average price of $1.25 per share, with a total value of $1,588,586.25. Following the purchase, the insider now owns 2,730,166 shares in the company, valued at $3,412,707.50. This represents a 87.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 36,551 shares of company stock worth $48,344. 8.10% of the stock is owned by company insiders.

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 shares of Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 owned by institutional investors and hedge funds.

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.