Canaccord Genuity Group Reaffirms Hold Rating for Surf Air Mobility (NYSE:SRFM)

Surf Air Mobility (NYSE:SRFM)‘s stock had its “hold” rating reaffirmed by analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $2.20 price objective on the stock. Canaccord Genuity Group’s price target points to a potential upside of 0.46% from the stock’s current price.

Surf Air Mobility Trading Up 22.3 %

Shares of SRFM stock opened at $2.19 on Monday. The company has a market cap of $33.97 million, a PE ratio of -0.14 and a beta of 0.93. The company’s fifty day simple moving average is $1.74 and its 200-day simple moving average is $2.05. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $11.83.

Insider Buying and Selling at Surf Air Mobility

In other news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of Surf Air Mobility stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $1.25 per share, with a total value of $1,588,586.25. Following the completion of the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 36,551 shares of company stock valued at $48,344 over the last three months. 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) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 as of its most recent SEC filing. 17.68% of the stock is owned by institutional investors and hedge funds.

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.