Insider Buying: Surf Air Mobility Inc. (NYSE:SRFM) Director Acquires 17,237 Shares of Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Sudhin Shahani acquired 17,237 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $3.43 per share, with a total value of $59,122.91. Following the purchase, the director now directly owns 360,877 shares in the company, valued at $1,237,808.11. This represents a 5.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Surf Air Mobility Stock Performance

Shares of NYSE:SRFM opened at $5.49 on Friday. Surf Air Mobility Inc. has a 52-week low of $0.90 and a 52-week high of $11.83. The business’s 50 day simple moving average is $2.84 and its two-hundred day simple moving average is $2.25. The firm has a market cap of $85.14 million, a P/E ratio of -0.35 and a beta of 3.30.

Hedge Funds Weigh In On Surf Air Mobility

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Surf Air Mobility Inc. (NYSE:SRFM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned about 0.18% of Surf Air Mobility at the end of the most recent quarter. 17.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price target on shares of Surf Air Mobility from $2.20 to $4.00 and gave the company a “hold” rating in a research note on Friday, December 13th.

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.