Surf Air Mobility Inc. (NYSE:SRFM) Receives $2.92 Average PT from Analysts

Shares of Surf Air Mobility Inc. (NYSE:SRFM) have been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $2.9167.

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Surf Air Mobility from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. Weiss Ratings downgraded Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. Canaccord Genuity Group cut their price target on Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Finally, HC Wainwright reissued a “buy” rating on shares of Surf Air Mobility in a research note on Tuesday, August 11th.

Surf Air Mobility Stock Down 12.0%

Surf Air Mobility stock opened at $0.51 on Friday. Surf Air Mobility has a 12-month low of $0.50 and a 12-month high of $6.17. The firm’s fifty day moving average is $0.75 and its 200 day moving average is $1.11. The company has a market capitalization of $62.93 million, a PE ratio of -0.32 and a beta of 2.81.

Surf Air Mobility (NYSE:SRFM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). The business had revenue of $29.51 million for the quarter. Sell-side analysts expect that Surf Air Mobility will post -0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Surf Air Mobility

Large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in Surf Air Mobility by 14.6% in the 2nd quarter. Geode Capital Management LLC now owns 127,602 shares of the company’s stock valued at $471,000 after purchasing an additional 16,273 shares during the period. HRT Financial LP acquired a new position in Surf Air Mobility during the second quarter worth $2,212,000. Tower Research Capital LLC TRC lifted its stake in shares of Surf Air Mobility by 1,235.8% in the second quarter. Tower Research Capital LLC TRC now owns 19,009 shares of the company’s stock valued at $70,000 after buying an additional 17,586 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Surf Air Mobility by 669.8% in the second quarter. Osaic Holdings Inc. now owns 17,244 shares of the company’s stock valued at $64,000 after buying an additional 15,004 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Surf Air Mobility by 18,757.1% in the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock valued at $28,000 after buying an additional 6,565 shares in the last quarter. 17.68% of the stock is currently owned by institutional investors.

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.