Surf Air Mobility Inc. (NYSE:SRFM) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus: Five analysts give Surf Air Mobility a consensus "Hold" (1 sell, 1 hold, 3 buy) with an average 12‑month price target of $3.50.
• Market action: SRFM traded at $1.41 (up ~3.2%) with a market cap of ~$140.7M, a 12‑month range of $1.01–$9.91, and 50/200‑day SMAs of $1.41/$2.17.
• Insider & institutional activity: CEO and CFO each sold ~27–29k shares at $1.31 to cover tax withholding on vested awards; insiders own 8.0% of the company and institutions own ~17.7%.

Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) has earned a consensus recommendation of "Hold" from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $3.50.

Several research analysts have weighed in on SRFM shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Surf Air Mobility in a research report on Monday, April 20th. Northland Securities assumed coverage on shares of Surf Air Mobility in a research report on Thursday. They issued an "outperform" rating and a $5.00 price target on the stock. Canaccord Genuity Group decreased their price objective on shares of Surf Air Mobility from $3.50 to $2.25 and set a "hold" rating on the stock in a research report on Monday, March 16th. Finally, Alliance Global Partners initiated coverage on shares of Surf Air Mobility in a research report on Friday, May 1st. They set a "buy" rating and a $2.75 price objective on the stock.

Surf Air Mobility Trading Up 3.2%

SRFM stock traded up $0.04 on Thursday, hitting $1.41. The company had a trading volume of 4,883,745 shares, compared to its average volume of 3,690,916. Surf Air Mobility has a 12-month low of $1.01 and a 12-month high of $9.91. The stock's 50-day simple moving average is $1.41 and its 200 day simple moving average is $2.17. The stock has a market cap of $140.69 million, a price-to-earnings ratio of -0.40 and a beta of 2.72.

Insiders Place Their Bets

In other news, CEO Deanna Leigh White sold 27,720 shares of the business's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $1.31, for a total value of $36,313.20. Following the completion of the sale, the chief executive officer owned 675,530 shares in the company, valued at approximately $884,944.30. The trade was a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Oliver Reeves sold 28,874 shares of the business's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $1.31, for a total transaction of $37,824.94. Following the completion of the sale, the chief financial officer owned 289,564 shares of the company's stock, valued at approximately $379,328.84. This represents a 9.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 8.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SRFM. Bank of New York Mellon Corp purchased a new stake in Surf Air Mobility during the 1st quarter worth approximately $26,000. J. Derek Lewis & Associates Inc. purchased a new stake in Surf Air Mobility during the 4th quarter worth approximately $308,000. Aristides Capital LLC purchased a new stake in Surf Air Mobility during the 4th quarter worth approximately $195,000. Susquehanna Fundamental Investments LLC purchased a new stake in Surf Air Mobility during the 4th quarter worth approximately $127,000. Finally, Quadrature Capital Ltd grew its position in Surf Air Mobility by 22.6% during the 4th quarter. Quadrature Capital Ltd now owns 90,015 shares of the company's stock worth $175,000 after purchasing an additional 16,593 shares during 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.

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