Surf Air Mobility Inc. (NYSE:SRFM) Director Sells $92,772.05 in Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Tyler Painter sold 25,417 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $3.65, for a total transaction of $92,772.05. Following the completion of the transaction, the director now directly owns 40,765 shares in the company, valued at approximately $148,792.25. The trade was a 38.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Surf Air Mobility Trading Down 3.6 %

SRFM stock opened at $3.35 on Friday. Surf Air Mobility Inc. has a 1-year low of $0.90 and a 1-year high of $6.72. The firm has a market cap of $56.69 million, a PE ratio of -0.21 and a beta of 2.50. The business’s 50-day moving average price is $4.03 and its two-hundred day moving average price is $3.24.

Surf Air Mobility (NYSE:SRFM) last issued its quarterly earnings data on Tuesday, March 18th. The company reported $0.59 earnings per share (EPS) for the quarter. The company had revenue of $28.05 million for the quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SRFM shares. Canaccord Genuity Group reduced their price target on Surf Air Mobility from $4.00 to $3.75 and set a “hold” rating on the stock in a research report on Thursday, March 20th. HC Wainwright assumed coverage on Surf Air Mobility in a research note on Friday, March 7th. They issued a “buy” rating and a $12.00 price target for the company.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Surf Air Mobility during the fourth quarter valued at approximately $375,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Surf Air Mobility in the third quarter valued at $31,000. Jane Street Group LLC acquired a new position in shares of Surf Air Mobility during the 4th quarter worth about $99,000. Brave Asset Management Inc. acquired a new stake in Surf Air Mobility in the 4th quarter valued at about $86,000. Finally, XTX Topco Ltd bought a new position in Surf Air Mobility during the fourth quarter worth about $63,000. Institutional investors own 17.68% of the company’s stock.

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.