Surf Air Mobility Inc. (NYSE:SRFM) Director Tyler Painter Sells 25,417 Shares of Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Tyler Painter sold 25,417 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $3.65, for a total value of $92,772.05. Following the completion of the transaction, the director now owns 40,765 shares in the company, valued at approximately $148,792.25. The trade was a 38.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Surf Air Mobility Stock Down 3.6 %

Shares of NYSE:SRFM traded down $0.13 during trading on Friday, reaching $3.35. The stock had a trading volume of 272,840 shares, compared to its average volume of 412,213. The stock has a market cap of $56.69 million, a P/E ratio of -0.21 and a beta of 2.50. The business has a fifty day moving average price of $4.04 and a 200-day moving average price of $3.23. Surf Air Mobility Inc. has a fifty-two week low of $0.90 and a fifty-two week high of $6.72.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings results on Tuesday, March 18th. The company reported $0.59 earnings per share for the quarter. The business had revenue of $28.05 million for the quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. HC Wainwright initiated coverage on Surf Air Mobility in a report on Friday, March 7th. They issued a “buy” rating and a $12.00 price target for the company. Canaccord Genuity Group reduced their price objective on shares of Surf Air Mobility from $4.00 to $3.75 and set a “hold” rating for the company in a research report on Thursday, March 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SRFM. Geode Capital Management LLC grew its holdings in Surf Air Mobility by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock valued at $503,000 after purchasing an additional 4,215 shares during the period. Marshall Wace LLP acquired a new position in shares of Surf Air Mobility in the 4th quarter valued at $375,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Surf Air Mobility in the 3rd quarter worth $31,000. Jane Street Group LLC acquired a new position in Surf Air Mobility in the fourth quarter valued at $99,000. Finally, Brave Asset Management Inc. purchased a new stake in Surf Air Mobility during the fourth quarter valued at about $86,000. 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.