Surf Air Mobility Inc. (NYSE:SRFM) Stock Has Consensus Target Price of $2.92 According to Analysts

Key Points

• Analysts collectively rate Surf Air Mobility “Hold,” with three buys, one hold, and one sell among five covering brokerages. The consensus 12-month price target is $2.92.
• SRFM opened at $1.18 and has traded between $0.46 and $6.17 over the past year. Its market capitalization is approximately $145 million, and the stock has a high beta of 2.81.
• The company reported a quarterly loss of $0.29 per share, missing the $0.18-per-share consensus estimate, while revenue totaled $29.51 million. Analysts expect a full-year loss of approximately $0.68 per share.

Shares of Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) have been given a consensus recommendation of "Hold" by the five brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2.92.

Several brokerages have commented on SRFM. HC Wainwright reaffirmed a "buy" rating on shares of Surf Air Mobility in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of Surf Air Mobility from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, July 24th. Canaccord Genuity Group cut their target price on Surf Air Mobility from $1.50 to $1.00 and set a "hold" rating on the stock in a research note on Monday, August 17th. Finally, Wall Street Zen lowered Surf Air Mobility from a "hold" rating to a "sell" rating in a report on Monday, August 17th.

Surf Air Mobility Trading Down 1.3%

SRFM stock opened at $1.18 on Wednesday. Surf Air Mobility has a 12-month low of $0.46 and a 12-month high of $6.17. The stock has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $1.00. The company has a market cap of $145.28 million, a PE ratio of -0.73 and a beta of 2.81.

Surf Air Mobility (NYSE:SRFM - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.11). The company had revenue of $29.51 million for the quarter. Equities analysts forecast that Surf Air Mobility will post -0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Surf Air Mobility

A number of hedge funds and other institutional investors have recently modified their holdings of SRFM. Balefire LLC purchased a new position in Surf Air Mobility during the 1st quarter valued at $376,000. J. Derek Lewis & Associates Inc. increased its stake in shares of Surf Air Mobility by 84.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 293,000 shares of the company's stock valued at $337,000 after purchasing an additional 134,000 shares in the last quarter. Aristides Capital LLC purchased a new stake in shares of Surf Air Mobility during the fourth quarter worth approximately $195,000. Engineers Gate Manager LP increased its stake in shares of Surf Air Mobility by 147.4% in the 2nd quarter. Engineers Gate Manager LP now owns 96,389 shares of the company's stock worth $112,000 after acquiring an additional 57,423 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Surf Air Mobility in the 2nd quarter valued at about $53,000. Institutional investors own 17.68% of the company's stock.

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.

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