Surf Air Mobility Inc. (NYSE:SRFM) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Surf Air Mobility Inc. (NYSE:SRFM) have been given a consensus recommendation of “Hold” by the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $2.92.

SRFM has been the subject of several research reports. Wall Street Zen cut Surf Air Mobility from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. HC Wainwright reaffirmed a “buy” rating on shares of Surf Air Mobility in a research report on Tuesday, August 11th. Weiss Ratings lowered Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 24th. Finally, Canaccord Genuity Group cut their price target on Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating for the company in a report on Monday, August 17th.

Institutional Trading of Surf Air Mobility

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in Surf Air Mobility during the first quarter valued at about $26,000. Parrish Capital LLC purchased a new position in Surf Air Mobility during the 2nd quarter valued at $27,000. Squarepoint Ops LLC purchased a new position in shares of Surf Air Mobility in the 2nd quarter valued at approximately $53,000. Engineers Gate Manager LP grew its holdings in Surf Air Mobility by 147.4% in the second quarter. Engineers Gate Manager LP now owns 96,389 shares of the company’s stock worth $112,000 after purchasing an additional 57,423 shares during the period. Finally, Aristides Capital LLC purchased a new stake in shares of Surf Air Mobility in the fourth quarter worth $195,000. 17.68% of the stock is owned by hedge funds and other institutional investors.

Surf Air Mobility Price Performance

Shares of Surf Air Mobility stock opened at $1.18 on Wednesday. Surf Air Mobility has a 1-year low of $0.46 and a 1-year high of $6.17. The business has a 50-day moving average of $0.74 and a 200-day moving average of $1.00. The company has a market capitalization of $145.28 million, a PE ratio of -0.73 and a beta of 2.81.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.11). The firm had revenue of $29.51 million during the quarter. On average, equities analysts expect that Surf Air Mobility will post -0.68 earnings per share for the current fiscal year.

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.