Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) Director Tyler Painter sold 25,417 shares of Surf Air Mobility stock in a transaction dated Wednesday, March 26th. The stock was 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 directly owns 40,765 shares in the company, valued at approximately $148,792.25. This represents a 38.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Surf Air Mobility Stock Down 0.6 %
SRFM traded down $0.02 on Tuesday, hitting $2.66. The company's stock had a trading volume of 172,272 shares, compared to its average volume of 414,847. Surf Air Mobility Inc. has a 12 month low of $0.90 and a 12 month high of $6.72. The firm has a market cap of $44.99 million, a P/E ratio of -0.17 and a beta of 2.50. The company's 50 day simple moving average is $3.98 and its 200-day simple moving average is $3.28.
Surf Air Mobility (NYSE:SRFM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.59 EPS for the quarter. The company had revenue of $28.05 million during the quarter.
Institutional Investors Weigh In On Surf Air Mobility
Institutional investors and hedge funds have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd purchased a new position in Surf Air Mobility during the third quarter valued at approximately $31,000. Brave Asset Management Inc. purchased a new position in shares of Surf Air Mobility during the 4th quarter valued at $86,000. Geode Capital Management LLC increased its holdings in shares of Surf Air Mobility by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 93,210 shares of the company's stock worth $503,000 after purchasing an additional 4,215 shares during the period. XTX Topco Ltd purchased a new stake in shares of Surf Air Mobility in the fourth quarter worth $63,000. Finally, Marshall Wace LLP purchased a new stake in shares of Surf Air Mobility in the 4th quarter valued at about $375,000. 17.68% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Canaccord Genuity Group decreased their target price on Surf Air Mobility from $4.00 to $3.75 and set a "hold" rating for the company in a research report on Thursday, March 20th. HC Wainwright initiated coverage on Surf Air Mobility in a report on Friday, March 7th. They issued a "buy" rating and a $12.00 price objective for the company.
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About Surf Air Mobility
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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.
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