Surf Air Mobility (NYSE:SRFM) Price Target Raised to $4.00 at Canaccord Genuity Group

Surf Air Mobility (NYSE:SRFM) had its target price upped by equities research analysts at Canaccord Genuity Group from $2.20 to $4.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock.

Surf Air Mobility Trading Up 4.7 %

NYSE SRFM opened at $4.00 on Friday. The firm’s 50 day simple moving average is $2.59 and its 200 day simple moving average is $2.17. The firm has a market capitalization of $62.04 million, a price-to-earnings ratio of -0.25 and a beta of 3.30. Surf Air Mobility has a 1 year low of $0.90 and a 1 year high of $11.83.

Insider Buying and Selling at Surf Air Mobility

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the 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 in the company, valued at $3,412,707.50. The trade was a 87.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 28,251 shares of company stock valued at $35,894. 8.10% of the stock is currently owned by corporate 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 bought a new stake in Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 reporting period. Institutional investors and hedge funds own 17.68% of the company’s stock.

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.