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

Surf Air Mobility (NYSE:SRFM) had its price objective hoisted by stock analysts at Canaccord Genuity Group from $2.20 to $4.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 4.71% from the company’s current price.

Surf Air Mobility Price Performance

Shares of NYSE:SRFM opened at $3.82 on Friday. The company has a market capitalization of $59.25 million, a P/E ratio of -0.24 and a beta of 3.30. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $11.83. The firm’s 50 day simple moving average is $2.55 and its two-hundred day simple moving average is $2.16.

Insider Buying and Selling

In related news, major shareholder Palantir Technologies Inc. bought 1,270,869 shares of the company’s 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 completion of the transaction, the insider now owns 2,730,166 shares in the company, valued at $3,412,707.50. The trade was a 87.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 28,251 shares of company stock valued at $35,894. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to 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 0.18% of Surf Air Mobility at the end of the most recent reporting period. 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.