Surf Air Mobility (NYSE:SRFM) Price Target Raised to $3.75

Surf Air Mobility (NYSE:SRFM) had its target price increased by Canaccord Genuity Group from $3.00 to $3.75 in a research note published on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Separately, Piper Sandler increased their price objective on shares of Surf Air Mobility from $3.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, June 10th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Surf Air Mobility has a consensus rating of “Moderate Buy” and an average price target of $6.58.

Surf Air Mobility Trading Down 2.0%

Shares of NYSE SRFM opened at $4.1150 on Monday. The stock has a market cap of $79.34 million, a price-to-earnings ratio of -1.48 and a beta of 2.92. Surf Air Mobility has a 52 week low of $0.90 and a 52 week high of $9.91. The company’s 50-day moving average price is $4.32 and its 200 day moving average price is $3.53.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.16. The business had revenue of $27.43 million during the quarter, compared to analyst estimates of $25.90 million. Surf Air Mobility has set its Q3 2025 guidance at EPS.

Insider Activity

In other Surf Air Mobility news, Director Tyler Painter sold 22,000 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $5.00, for a total transaction of $110,000.00. Following the sale, the director directly owned 182 shares of the company’s stock, valued at $910. This trade represents a 99.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sudhin Shahani sold 75,840 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $2.43, for a total transaction of $184,291.20. Following the sale, the director directly owned 549,578 shares in the company, valued at $1,335,474.54. This represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,423 shares of company stock worth $368,623 over the last ninety days. 8.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Surf Air Mobility during the 4th quarter worth about $99,000. XTX Topco Ltd lifted its holdings in shares of Surf Air Mobility by 44.6% during the 1st quarter. XTX Topco Ltd now owns 16,906 shares of the company’s stock worth $45,000 after acquiring an additional 5,214 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Surf Air Mobility by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock worth $503,000 after acquiring an additional 4,215 shares during the period. Marshall Wace LLP purchased a new position in shares of Surf Air Mobility during the 4th quarter worth about $375,000. Finally, HRT Financial LP purchased a new position in shares of Surf Air Mobility during the 2nd quarter worth about $2,212,000. 17.68% of the stock is currently owned by hedge funds and other 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.