Palantir Technologies Inc. Sells 8,300 Shares of Surf Air Mobility Inc. (NYSE:SRFM) Stock

Surf Air Mobility Inc. (NYSE:SRFM) major shareholder Palantir Technologies Inc. sold 8,300 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $1.50, for a total transaction of $12,450.00. Following the sale, the insider now owns 1,515,122 shares of the company’s stock, valued at $2,272,683. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 transaction of $9,008.55.

Surf Air Mobility Stock Down 9.1 %

Shares of SRFM traded down $0.14 during mid-day trading on Monday, hitting $1.35. 117,785 shares of the company’s stock were exchanged, compared to its average volume of 106,605. Surf Air Mobility Inc. has a 52 week low of $0.90 and a 52 week high of $17.50. The stock’s 50-day simple moving average is $1.84 and its 200-day simple moving average is $3.20. The firm has a market cap of $111.68 million, a price-to-earnings ratio of -0.21 and a beta of 1.50.

Surf Air Mobility (NYSE:SRFM) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($1.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.56). The company had revenue of $32.37 million for the quarter, compared to analyst estimates of $30.15 million. Analysts forecast that Surf Air Mobility Inc. will post -7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

SRFM has been the subject of several research reports. Canaccord Genuity Group raised their price objective on shares of Surf Air Mobility from $1.00 to $2.20 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Sanford C. Bernstein restated a “market perform” rating and set a $2.80 price objective (down from $25.34) on shares of Surf Air Mobility in a research report on Tuesday, May 28th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Surf Air Mobility stock. Ieq Capital LLC grew its stake in shares of Surf Air Mobility Inc. (NYSE:SRFM) by 75.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,762 shares of the company’s stock after buying an additional 15,755 shares during the quarter. Ieq Capital LLC’s holdings in Surf Air Mobility were worth $57,000 as of its most recent SEC filing. 17.68% of the stock is 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.