Canaccord Genuity Group Has Lowered Expectations for Surf Air Mobility (NYSE:SRFM) Stock Price

Surf Air Mobility (NYSE:SRFM) had its price target decreased by investment analysts at Canaccord Genuity Group from $3.50 to $2.25 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 54.64% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surf Air Mobility in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.13.

Surf Air Mobility Trading Down 0.3%

Surf Air Mobility stock traded down $0.01 during mid-day trading on Monday, hitting $1.46. The stock had a trading volume of 3,214,913 shares, compared to its average volume of 3,474,729. Surf Air Mobility has a one year low of $1.40 and a one year high of $9.91. The firm has a market capitalization of $112.02 million, a P/E ratio of -0.42 and a beta of 3.00. The firm’s 50 day moving average is $2.24 and its 200 day moving average is $3.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Surf Air Mobility by 233.2% in the third quarter. Vanguard Group Inc. now owns 1,886,429 shares of the company’s stock worth $8,093,000 after purchasing an additional 1,320,353 shares during the last quarter. Raymond James Financial Inc. increased its stake in Surf Air Mobility by 81,240.1% in the 3rd quarter. Raymond James Financial Inc. now owns 952,492 shares of the company’s stock worth $4,086,000 after acquiring an additional 951,321 shares during the last quarter. HRT Financial LP purchased a new stake in shares of Surf Air Mobility during the 2nd quarter worth approximately $2,212,000. Geode Capital Management LLC boosted its position in shares of Surf Air Mobility by 103.6% during the 4th quarter. Geode Capital Management LLC now owns 552,374 shares of the company’s stock valued at $1,072,000 after acquiring an additional 281,045 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Surf Air Mobility by 3,450.8% in the third quarter. Millennium Management LLC now owns 488,272 shares of the company’s stock valued at $2,095,000 after purchasing an additional 474,521 shares in the last quarter. Institutional investors 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.