Surf Air Mobility (NYSE:SRFM) Raised to Hold at Wall Street Zen

Surf Air Mobility (NYSE:SRFM) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

SRFM has been the subject of a number of other research reports. Canaccord Genuity Group set a $1.50 target price on Surf Air Mobility in a report on Wednesday, May 13th. Northland Securities started coverage on shares of Surf Air Mobility in a report on Thursday, May 7th. They issued an “outperform” rating and a $5.00 price target on the stock. Weiss Ratings lowered shares of Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. Finally, Alliance Global Partners assumed coverage on shares of Surf Air Mobility in a research note on Friday, May 1st. They set a “buy” rating and a $2.75 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Surf Air Mobility has an average rating of “Hold” and a consensus price target of $3.08.

Surf Air Mobility Stock Performance

NYSE:SRFM opened at $0.81 on Friday. Surf Air Mobility has a 52-week low of $0.67 and a 52-week high of $6.17. The firm has a market cap of $85.74 million, a price-to-earnings ratio of -0.30 and a beta of 2.83. The business’s fifty day moving average is $0.94 and its 200 day moving average is $1.34.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SRFM. JPMorgan Chase & Co. boosted its holdings in shares of Surf Air Mobility by 18,757.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock worth $28,000 after purchasing an additional 6,565 shares in the last quarter. Bank of America Corp DE grew its position in Surf Air Mobility by 7,157.9% during the third quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after acquiring an additional 10,021 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Surf Air Mobility during the third quarter valued at approximately $47,000. Private Advisor Group LLC purchased a new position in shares of Surf Air Mobility during the third quarter worth approximately $48,000. Finally, Osaic Holdings Inc. raised its stake in shares of Surf Air Mobility by 669.8% during the second quarter. Osaic Holdings Inc. now owns 17,244 shares of the company’s stock worth $64,000 after acquiring an additional 15,004 shares in the last quarter. Institutional investors own 17.68% of the company’s stock.

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.