Surf Air Mobility (NYSE:SRFM) CEO Deanna Leigh White Sells 27,720 Shares

Surf Air Mobility Inc. (NYSE:SRFM) CEO Deanna Leigh White sold 27,720 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $1.31, for a total transaction of $36,313.20. Following the sale, the chief executive officer directly owned 675,530 shares in the company, valued at approximately $884,944.30. The trade was a 3.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Surf Air Mobility Price Performance

Surf Air Mobility stock traded up $0.12 during mid-day trading on Friday, reaching $1.37. 3,619,932 shares of the stock traded hands, compared to its average volume of 1,940,224. The stock has a market capitalization of $105.09 million, a PE ratio of -0.39 and a beta of 3.34. Surf Air Mobility Inc. has a 12-month low of $1.04 and a 12-month high of $9.91. The business’s 50-day moving average is $1.60 and its 200-day moving average is $2.50.

Institutional Investors Weigh In On Surf Air Mobility

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRFM. Vanguard Group Inc. increased its holdings in Surf Air Mobility by 233.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,886,429 shares of the company’s stock worth $8,093,000 after acquiring an additional 1,320,353 shares in the last quarter. Raymond James Financial Inc. increased its holdings 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 in the last quarter. HRT Financial LP purchased a new stake in Surf Air Mobility in the 2nd quarter worth approximately $2,212,000. Millennium Management LLC increased its holdings in Surf Air Mobility by 3,450.8% in the 3rd quarter. Millennium Management LLC now owns 488,272 shares of the company’s stock worth $2,095,000 after acquiring an additional 474,521 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Surf Air Mobility by 246.3% in the third quarter. UBS Group AG now owns 447,260 shares of the company’s stock valued at $1,919,000 after acquiring an additional 318,108 shares in the last quarter. 17.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SRFM has been the topic of several analyst reports. Canaccord Genuity Group dropped their price target on shares of Surf Air Mobility from $3.50 to $2.25 and set a “hold” rating on the stock in a research note on Monday, March 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surf Air Mobility in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.13.

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.