Surf Air Mobility (NYSE:SRFM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Surf Air Mobility (NYSE:SRFM) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently commented on SRFM. Canaccord Genuity Group dropped their price target on Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Monday, August 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Surf Air Mobility in a research note on Thursday, October 22nd. Finally, HC Wainwright reissued a “buy” rating on shares of Surf Air Mobility in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.92.

Surf Air Mobility Trading Up 2.6%

NYSE:SRFM opened at $0.71 on Friday. Surf Air Mobility has a 12 month low of $0.46 and a 12 month high of $3.73. The firm’s 50 day moving average is $0.80 and its 200 day moving average is $1.16. The stock has a market capitalization of $87.54 million, a PE ratio of -0.63 and a beta of 2.65.

Surf Air Mobility (NYSE:SRFM) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $36.46 million during the quarter. Research analysts predict that Surf Air Mobility will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Balefire LLC bought a new stake in Surf Air Mobility during the 1st quarter worth approximately $376,000. J. Derek Lewis & Associates Inc. boosted its holdings in Surf Air Mobility by 84.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 293,000 shares of the company’s stock valued at $337,000 after purchasing an additional 134,000 shares during the period. Engineers Gate Manager LP boosted its holdings in Surf Air Mobility by 147.4% in the 2nd quarter. Engineers Gate Manager LP now owns 96,389 shares of the company’s stock valued at $112,000 after purchasing an additional 57,423 shares during the period. Squarepoint Ops LLC bought a new position in Surf Air Mobility in the 2nd quarter valued at $53,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Surf Air Mobility during the 3rd quarter valued at $37,000. 17.68% of the stock is currently owned by hedge funds and other institutional investors.

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.