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

Surf Air Mobility Inc. (NYSE:SRFM) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $3.0833.

Several equities research analysts have recently commented on SRFM shares. Weiss Ratings cut shares of Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of Surf Air Mobility from a “sell” rating to a “hold” rating in a research report on Sunday. Canaccord Genuity Group set a $1.50 price target on shares of Surf Air Mobility in a research note on Wednesday, May 13th. Alliance Global Partners initiated coverage on shares of Surf Air Mobility in a report on Friday, May 1st. They issued a “buy” rating and a $2.75 price objective for the company. Finally, Northland Securities began coverage on Surf Air Mobility in a research report on Thursday, May 7th. They set an “outperform” rating and a $5.00 price objective on the stock.

Institutional Investors Weigh In On Surf Air Mobility

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Surf Air Mobility by 233.2% in the third quarter. Vanguard Group Inc. now owns 1,886,429 shares of the company’s stock worth $8,093,000 after purchasing an additional 1,320,353 shares during the period. Raymond James Financial Inc. grew its position in shares of 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 buying an additional 951,321 shares during the period. HRT Financial LP purchased a new stake in shares of Surf Air Mobility in the 2nd quarter worth about $2,212,000. Millennium Management LLC increased its stake in shares of 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, Balefire LLC bought a new position in shares of Surf Air Mobility in the 1st quarter worth about $376,000. 17.68% of the stock is currently owned by institutional investors.

Surf Air Mobility Price Performance

Surf Air Mobility stock traded down $0.06 during mid-day trading on Tuesday, reaching $0.79. 726,687 shares of the company traded hands, compared to its average volume of 4,664,747. The firm’s 50 day moving average price is $0.94 and its 200 day moving average price is $1.34. The firm has a market capitalization of $83.82 million, a price-to-earnings ratio of -0.30 and a beta of 2.83. Surf Air Mobility has a 52-week low of $0.67 and a 52-week high of $6.17.

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.