Surf Air Mobility (NYSE:SRFM) Given New $4.00 Price Target at Canaccord Genuity Group

Surf Air Mobility (NYSE:SRFM) had its target price upped by Canaccord Genuity Group from $2.20 to $4.00 in a research report report published on Friday,Benzinga reports. They currently have a hold rating on the stock.

Surf Air Mobility Trading Up 4.7 %

SRFM stock opened at $4.00 on Friday. The stock has a market cap of $62.04 million, a P/E ratio of -0.25 and a beta of 3.30. Surf Air Mobility has a twelve month low of $0.90 and a twelve month high of $11.83. The company’s 50 day moving average is $2.59 and its two-hundred day moving average is $2.17.

Insider Buying and Selling at Surf Air Mobility

In other Surf Air Mobility news, major shareholder Palantir Technologies Inc. purchased 1,270,869 shares of Surf Air Mobility stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $1.25 per share, for a total transaction of $1,588,586.25. Following the transaction, the insider now directly owns 2,730,166 shares in the company, valued at $3,412,707.50. This trade represents a 87.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 21,578 shares of company stock worth $26,885 over the last 90 days. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Surf Air Mobility Inc. (NYSE:SRFM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned 0.18% of Surf Air Mobility at the end of the most recent reporting period. 17.68% of the stock is 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.