Surf Air Mobility Inc. (SRFM) – What Are Brokerages Thinking About This Stock?

Surf Air Mobility Inc. (NYSE:SRFM) has received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.92.

Several analysts have weighed in on the company. Canaccord Genuity Group dropped their price objective on Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating for the company in a report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surf Air Mobility in a research note on Thursday. Wall Street Zen lowered shares of Surf Air Mobility from a “hold” rating to a “sell” rating in a research note on Monday, August 17th. Finally, HC Wainwright reiterated a “buy” rating on shares of Surf Air Mobility in a research report on Tuesday, August 11th.

Surf Air Mobility Stock Down 3.1%

SRFM stock opened at $0.78 on Friday. The company has a market cap of $95.82 million, a P/E ratio of -0.48 and a beta of 2.51. Surf Air Mobility has a twelve month low of $0.46 and a twelve month high of $4.50. The business has a fifty day moving average of $0.79 and a 200-day moving average of $0.96.

Surf Air Mobility (NYSE:SRFM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.11). The company had revenue of $29.51 million during the quarter. As a group, equities research analysts anticipate that Surf Air Mobility will post -0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surf Air Mobility

Several large investors have recently bought and sold shares of SRFM. Balefire LLC bought a new position in Surf Air Mobility in the first quarter valued at approximately $376,000. Engineers Gate Manager LP grew its holdings in Surf Air Mobility by 147.4% during the 2nd quarter. Engineers Gate Manager LP now owns 96,389 shares of the company’s stock worth $112,000 after acquiring an additional 57,423 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Surf Air Mobility during the 2nd quarter valued at $53,000. Parrish Capital LLC bought a new stake in shares of Surf Air Mobility during the 2nd quarter valued at $27,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Surf Air Mobility during the 1st quarter valued at $26,000. 17.68% of the stock is currently owned by institutional investors and hedge funds.

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.