Insider Selling: Surf Air Mobility Inc. (NYSE:SRFM) Director Sells 25,417 Shares of Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Tyler Painter sold 25,417 shares of Surf Air Mobility 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 sale, the director now owns 40,765 shares of the company’s stock, valued at $148,792.25. This trade represents a 38.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Surf Air Mobility Stock Down 3.6 %

SRFM stock traded down $0.13 during midday trading on Friday, hitting $3.35. The company’s stock had a trading volume of 272,840 shares, compared to its average volume of 412,213. The firm has a 50-day simple moving average of $4.04 and a 200-day simple moving average of $3.23. The firm has a market capitalization of $56.69 million, a P/E ratio of -0.21 and a beta of 2.50. Surf Air Mobility Inc. has a 52-week low of $0.90 and a 52-week high of $6.72.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SRFM shares. HC Wainwright initiated coverage on Surf Air Mobility in a research note on Friday, March 7th. They issued a “buy” rating and a $12.00 price objective for the company. Canaccord Genuity Group lowered their target price on Surf Air Mobility from $4.00 to $3.75 and set a “hold” rating for the company in a report on Thursday, March 20th.

Hedge Funds Weigh In On Surf Air Mobility

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in shares of Surf Air Mobility during the fourth quarter worth approximately $375,000. Gordian Capital Singapore Pte Ltd acquired a new position in Surf Air Mobility during the 3rd quarter worth approximately $31,000. Jane Street Group LLC purchased a new stake in shares of Surf Air Mobility in the 4th quarter valued at approximately $99,000. Brave Asset Management Inc. acquired a new stake in shares of Surf Air Mobility in the 4th quarter valued at $86,000. Finally, XTX Topco Ltd acquired a new stake in shares of Surf Air Mobility in the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 17.68% of the company’s stock.

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.