Surf Air Mobility (NYSE:SRFM) CFO Oliver Reeves Sells 28,874 Shares of Stock

Surf Air Mobility Inc. (NYSE:SRFM) CFO Oliver Reeves sold 28,874 shares of Surf Air Mobility stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $1.31, for a total value of $37,824.94. Following the completion of the transaction, the chief financial officer owned 289,564 shares of the company’s stock, valued at $379,328.84. This trade represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Surf Air Mobility Stock Up 9.2%

Shares of SRFM stock opened at $1.37 on Friday. The business has a 50 day moving average of $1.60 and a two-hundred day moving average of $2.50. Surf Air Mobility Inc. has a 52 week low of $1.04 and a 52 week high of $9.91. The company has a market cap of $105.09 million, a P/E ratio of -0.39 and a beta of 3.34.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SRFM. Canaccord Genuity Group reduced their price objective on Surf Air Mobility from $3.50 to $2.25 and set a “hold” rating for the company in a research report on Monday, March 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surf Air Mobility in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.13.

Institutional Investors Weigh In On Surf Air Mobility

Large investors have recently bought and sold shares of the business. Aristides Capital LLC bought a new stake in Surf Air Mobility in the fourth quarter worth $195,000. Price T Rowe Associates Inc. MD acquired a new position in Surf Air Mobility during the 4th quarter worth $45,000. Rathbones Group PLC lifted its position in Surf Air Mobility by 93.3% during the 4th quarter. Rathbones Group PLC now owns 322,326 shares of the company’s stock worth $625,000 after acquiring an additional 155,567 shares during the last quarter. DNB Asset Management AS lifted its position in Surf Air Mobility by 139.5% during the 4th quarter. DNB Asset Management AS now owns 44,251 shares of the company’s stock worth $86,000 after acquiring an additional 25,775 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Surf Air Mobility by 18,757.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock worth $28,000 after acquiring an additional 6,565 shares during the last quarter. 17.68% of the stock is currently owned by 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.