Surf Air Mobility (NYSE:SRFM) Stock Price Up 0.8% - Here's What Happened

Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) shares traded up 0.8% on Thursday . The company traded as high as $4.29 and last traded at $4.17. 162,485 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 358,503 shares. The stock had previously closed at $4.14.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on shares of Surf Air Mobility from $2.20 to $4.00 and gave the stock a "hold" rating in a research report on Friday, December 13th.

Surf Air Mobility Stock Performance

The firm has a 50-day moving average price of $4.28 and a two-hundred day moving average price of $2.71. The firm has a market cap of $78.90 million, a price-to-earnings ratio of -0.32 and a beta of 2.35.

Insiders Place Their Bets

In other news, Director Sudhin Shahani bought 17,237 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $3.43 per share, with a total value of $59,122.91. Following the transaction, the director now directly owns 360,877 shares in the company, valued at $1,237,808.11. This trade represents a 5.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Surf Air Mobility

A hedge fund recently bought a new stake in Surf Air Mobility stock. Brave Asset Management Inc. purchased a new position in shares of Surf Air Mobility Inc. (NYSE:SRFM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,000 shares of the company's stock, valued at approximately $86,000. Brave Asset Management Inc. owned about 0.10% of Surf Air Mobility as of its most recent SEC filing. 17.68% of the stock is owned by institutional investors.

Surf Air Mobility Company Profile

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.