Surf Air Mobility (NYSE:SRFM - Free Report) had its price objective upped by Canaccord Genuity Group from $2.20 to $4.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.
Surf Air Mobility Stock Up 4.7 %
Shares of SRFM stock traded up $0.18 on Friday, reaching $4.00. The company's stock had a trading volume of 752,859 shares, compared to its average volume of 322,584. The company has a market capitalization of $62.04 million, a P/E ratio of -0.24 and a beta of 3.30. Surf Air Mobility has a 12-month low of $0.90 and a 12-month high of $11.83. The stock's 50 day simple moving average is $2.55 and its 200-day simple moving average is $2.16.
Insider Activity
In other news, major shareholder Palantir Technologies Inc. acquired 1,270,869 shares of Surf Air Mobility stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $1,588,586.25. Following the transaction, the insider now owns 2,730,166 shares of the company's stock, valued at $3,412,707.50. This trade represents a 87.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 28,251 shares of company stock worth $35,894. 8.10% of the stock is currently owned by corporate insiders.
Institutional Trading of Surf Air Mobility
An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Surf Air Mobility Inc. (NYSE:SRFM - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,059 shares of the company's stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned about 0.18% of Surf Air Mobility at the end of the most recent quarter. Institutional investors own 17.68% of the company's stock.
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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