Surf Air Mobility Inc. (NYSE:SRFM) Receives Average Recommendation of “Hold” from Analysts

Shares of Surf Air Mobility Inc. (NYSE:SRFM) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $2.9167.

SRFM has been the topic of several recent analyst reports. Canaccord Genuity Group decreased their price target on Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Monday. Wall Street Zen cut Surf Air Mobility from a “hold” rating to a “sell” rating in a research report on Monday. HC Wainwright reissued a “buy” rating on shares of Surf Air Mobility in a research note on Tuesday, August 11th. Alliance Global Partners began coverage on shares of Surf Air Mobility in a report on Friday, May 1st. They issued a “buy” rating and a $2.75 target price for the company. Finally, Weiss Ratings downgraded shares of Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 24th.

Surf Air Mobility Price Performance

Surf Air Mobility stock opened at $0.69 on Tuesday. The firm has a market cap of $85.32 million, a PE ratio of -0.43 and a beta of 2.83. The stock’s fifty day moving average price is $0.90 and its two-hundred day moving average price is $1.28. Surf Air Mobility has a one year low of $0.67 and a one year high of $6.17.

Institutional Trading of Surf Air Mobility

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Surf Air Mobility by 18,757.1% during the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock worth $28,000 after buying an additional 6,565 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Surf Air Mobility by 7,157.9% during the 3rd quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after acquiring an additional 10,021 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Surf Air Mobility during the 3rd quarter valued at $47,000. Private Advisor Group LLC bought a new stake in Surf Air Mobility during the 3rd quarter worth $48,000. Finally, Osaic Holdings Inc. increased its holdings in Surf Air Mobility by 669.8% in the 2nd quarter. Osaic Holdings Inc. now owns 17,244 shares of the company’s stock worth $64,000 after purchasing an additional 15,004 shares in the last quarter. Institutional investors and hedge funds 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.