Palantir Technologies Inc. Buys 1,270,869 Shares of Surf Air Mobility Inc. (NYSE:SRFM) Stock

Surf Air Mobility Inc. (NYSE:SRFM) major shareholder Palantir Technologies Inc. acquired 1,270,869 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $1.25 per share, for a total transaction 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 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Palantir Technologies Inc. also recently made the following trade(s):

• On Monday, September 30th, Palantir Technologies Inc. sold 3,100 shares of Surf Air Mobility stock. The shares were sold at an average price of $1.37, for a total value of $4,247.00.
• On Friday, September 27th, Palantir Technologies Inc. sold 4,102 shares of Surf Air Mobility stock. The shares were sold at an average price of $1.30, for a total transaction of $5,332.60.
• On Wednesday, September 25th, Palantir Technologies Inc. sold 4,547 shares of Surf Air Mobility stock. The shares were sold at an average price of $1.16, for a total transaction of $5,274.52.
• On Monday, September 23rd, Palantir Technologies Inc. sold 2,000 shares of Surf Air Mobility stock. The stock was sold at an average price of $1.24, for a total transaction of $2,480.00.
• On Friday, September 20th, Palantir Technologies Inc. sold 4,900 shares of Surf Air Mobility stock. The shares were sold at an average price of $1.19, for a total transaction of $5,831.00.
• On Wednesday, September 18th, Palantir Technologies Inc. sold 2,929 shares of Surf Air Mobility stock. The stock was sold at an average price of $1.27, for a total value of $3,719.83.
• On Monday, September 16th, Palantir Technologies Inc. sold 6,673 shares of Surf Air Mobility stock. The stock was sold at an average price of $1.35, for a total value of $9,008.55.
• On Thursday, September 12th, Palantir Technologies Inc. sold 8,300 shares of Surf Air Mobility stock. The shares were sold at an average price of $1.50, for a total value of $12,450.00.

Surf Air Mobility Stock Performance

Shares of NYSE:SRFM traded up $0.29 during midday trading on Friday, hitting $1.94. 433,661 shares of the company’s stock traded hands, compared to its average volume of 166,967. The firm’s fifty day moving average price is $1.56 and its two-hundred day moving average price is $2.65. Surf Air Mobility Inc. has a twelve month low of $0.90 and a twelve month high of $12.74. The company has a market cap of $24.89 million, a PE ratio of -0.31 and a beta of 1.53.

Surf Air Mobility (NYSE:SRFM) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.56). The company had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $30.15 million. As a group, equities research analysts anticipate that Surf Air Mobility Inc. will post -7.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price target on Surf Air Mobility from $1.00 to $2.20 and gave the stock a “hold” rating in a research note on Tuesday, August 27th.

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.