Surf Air Mobility (NYSE:SRFM) CEO Deanna Leigh White Sells 56,884 Shares

Key Points

• Surf Air Mobility CEO Deanna Leigh White sold 56,884 shares on May 8 at an average price of $1.31, totaling about $74,518. The filing says the sale was to cover tax withholding tied to vesting equity awards.
• After the transaction, White still owned 899,130 shares, worth roughly $1.18 million, representing a 5.95% reduction in her holdings. She also sold 27,720 shares on April 16 at the same average price.
• SRFM shares were trading near $1.35 and remain well below the 52-week high of $9.91. Analysts currently have a mixed view, with a consensus rating of Hold and a consensus price target of $3.50.

Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) CEO Deanna Leigh White sold 56,884 shares of Surf Air Mobility stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1.31, for a total value of $74,518.04. Following the completion of the sale, the chief executive officer owned 899,130 shares in the company, valued at approximately $1,177,860.30. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Deanna Leigh White also recently made the following trade(s):

• On Thursday, April 16th, Deanna Leigh White sold 27,720 shares of Surf Air Mobility stock. The stock was sold at an average price of $1.31, for a total value of $36,313.20.

Surf Air Mobility Price Performance

SRFM stock traded down $0.08 during trading on Friday, hitting $1.35. The stock had a trading volume of 3,674,268 shares, compared to its average volume of 5,982,958. Surf Air Mobility Inc. has a twelve month low of $1.01 and a twelve month high of $9.91. The stock has a market capitalization of $133.83 million, a P/E ratio of -0.39 and a beta of 2.72. The company's 50-day moving average price is $1.40 and its two-hundred day moving average price is $2.15.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Surf Air Mobility from $3.50 to $2.25 and set a "hold" rating on the stock in a report on Monday, March 16th. Weiss Ratings cut Surf Air Mobility from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday. Northland Securities assumed coverage on Surf Air Mobility in a report on Thursday. They issued an "outperform" rating and a $5.00 price objective on the stock. Finally, Alliance Global Partners assumed coverage on Surf Air Mobility in a report on Friday, May 1st. They issued a "buy" rating and a $2.75 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $3.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rathbones Group PLC boosted its holdings in shares of Surf Air Mobility by 3.1% during the 3rd quarter. Rathbones Group PLC now owns 166,759 shares of the company's stock worth $715,000 after purchasing an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Surf Air Mobility by 18,757.1% during 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 during the last quarter. Bank of America Corp DE boosted its holdings in shares of Surf Air Mobility by 7,157.9% during the 3rd quarter. Bank of America Corp DE now owns 10,161 shares of the company's stock worth $44,000 after purchasing an additional 10,021 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Surf Air Mobility during the 3rd quarter worth approximately $47,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Surf Air Mobility during the 3rd quarter worth approximately $47,000. 17.68% of the stock is currently owned by institutional investors and hedge funds.

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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