Surf Air Mobility (NYSE:SRFM) CEO Deanna Leigh White Sells 27,720 Shares of Stock

Surf Air Mobility Inc. (NYSE:SRFM) CEO Deanna Leigh White sold 27,720 shares of Surf Air Mobility stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $1.31, for a total value of $36,313.20. Following the completion of the sale, the chief executive officer directly owned 675,530 shares in the company, valued at $884,944.30. This represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Surf Air Mobility Price Performance

SRFM opened at $1.37 on Friday. The business’s 50-day moving average price is $1.60 and its two-hundred day moving average price is $2.50. Surf Air Mobility Inc. has a 1 year low of $1.04 and a 1 year high of $9.91. The company has a market capitalization of $105.09 million, a price-to-earnings ratio of -0.39 and a beta of 3.34.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SRFM. J. Derek Lewis & Associates Inc. bought a new stake in shares of Surf Air Mobility during the fourth quarter worth approximately $308,000. Aristides Capital LLC bought a new stake in shares of Surf Air Mobility during the fourth quarter worth approximately $195,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Surf Air Mobility during the fourth quarter worth approximately $127,000. Quadrature Capital Ltd boosted its holdings in shares of Surf Air Mobility by 22.6% during the fourth quarter. Quadrature Capital Ltd now owns 90,015 shares of the company’s stock worth $175,000 after acquiring an additional 16,593 shares during the period. Finally, Engineers Gate Manager LP boosted its holdings in shares of Surf Air Mobility by 216.4% during the fourth quarter. Engineers Gate Manager LP now owns 50,720 shares of the company’s stock worth $98,000 after acquiring an additional 34,692 shares during the period. 17.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on SRFM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Surf Air Mobility in a research note on Wednesday, January 21st. Canaccord Genuity Group dropped their target price on Surf Air Mobility from $3.50 to $2.25 and set a “hold” rating on the stock in a report on Monday, March 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.13.

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.