Surf Air Mobility Inc. (NYSE:SRFM) Director Sells $74,332.00 in Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Tyler Painter sold 18,583 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $4.00, for a total value of $74,332.00. Following the completion of the sale, the director now directly owns 22,182 shares in the company, valued at $88,728. This represents a 45.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tyler Painter also recently made the following trade(s):

• On Wednesday, June 25th, Tyler Painter sold 22,000 shares of Surf Air Mobility stock. The stock was sold at an average price of $5.00, for a total transaction of $110,000.00.

Surf Air Mobility Trading Up 33.3%

Shares of NYSE:SRFM opened at $3.39 on Friday. The company has a 50 day moving average of $2.47 and a 200-day moving average of $3.36. The firm has a market cap of $65.26 million, a P/E ratio of -0.90 and a beta of 2.35. Surf Air Mobility Inc. has a twelve month low of $0.90 and a twelve month high of $6.72.

Surf Air Mobility (NYSE:SRFM) last released its earnings results on Tuesday, May 13th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.23). The business had revenue of $23.51 million during the quarter, compared to analysts’ expectations of $23.00 million.

Institutional Trading of Surf Air Mobility

Hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd boosted its stake in Surf Air Mobility by 44.6% during the first quarter. XTX Topco Ltd now owns 16,906 shares of the company’s stock valued at $45,000 after buying an additional 5,214 shares in the last quarter. Jane Street Group LLC bought a new stake in Surf Air Mobility in the fourth quarter worth about $99,000. Marshall Wace LLP acquired a new stake in Surf Air Mobility in the 4th quarter valued at about $375,000. Finally, Geode Capital Management LLC lifted its holdings in Surf Air Mobility by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 93,210 shares of the company’s stock valued at $503,000 after acquiring an additional 4,215 shares during the last quarter. Institutional investors own 17.68% of the company’s stock.

Wall Street Analyst Weigh In

SRFM has been the topic of several recent research reports. Piper Sandler lifted their price objective on shares of Surf Air Mobility from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. HC Wainwright assumed coverage on Surf Air Mobility in a report on Friday, March 7th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Canaccord Genuity Group upgraded shares of Surf Air Mobility from a “hold” rating to a “buy” rating and cut their price objective for the company from $3.75 to $3.25 in a research note on Wednesday, April 2nd.

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.