Surf Air Mobility (NYSE:SRFM) Shares Up 0.8% – Here’s Why

Surf Air Mobility Inc. (NYSE:SRFM) traded up 0.8% on Thursday . The company traded as high as $4.29 and last traded at $4.17. 162,485 shares traded hands during trading, a decline of 55% from the average session volume of 358,503 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price on Surf Air Mobility from $2.20 to $4.00 and gave the stock a “hold” rating in a report on Friday, December 13th.

Surf Air Mobility Trading Up 0.8 %

The firm has a market cap of $64.71 million, a P/E ratio of -0.26 and a beta of 2.35. The company’s fifty day moving average price is $4.26 and its two-hundred day moving average price is $2.67.

Insider Buying and Selling at Surf Air Mobility

In other Surf Air Mobility news, Director Sudhin Shahani acquired 17,237 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $3.43 per share, for a total transaction of $59,122.91. Following the transaction, the director now owns 360,877 shares in the company, valued at $1,237,808.11. This trade represents a 5.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd purchased a new stake in Surf Air Mobility Inc. (NYSE:SRFM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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. 17.68% of the stock is currently owned by institutional investors.

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.