Surf Air Mobility (NYSE:SRFM) Trading Up 1.6% - Here's Why

Surf Air Mobility Inc. (NYSE:SRFM - Get Free Report) was up 1.6% during mid-day trading on Monday . The stock traded as high as $4.14 and last traded at $4.05. Approximately 1,118,610 shares changed hands during trading, a decline of 56% from the average daily volume of 2,523,573 shares. The stock had previously closed at $3.98.

Analyst Upgrades and Downgrades

SRFM has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Surf Air Mobility from $3.00 to $4.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. Canaccord Genuity Group increased their price objective on shares of Surf Air Mobility from $3.00 to $3.75 and gave the company a "hold" rating in a report on Monday, August 18th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.58.

Surf Air Mobility Stock Up 6.3%

The firm has a market capitalization of $188.45 million, a price-to-earnings ratio of -1.58 and a beta of 2.92. The company's 50 day moving average is $4.83 and its 200 day moving average is $3.51.

Surf Air Mobility (NYSE:SRFM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.16. The company had revenue of $27.43 million for the quarter, compared to analyst estimates of $25.90 million. Surf Air Mobility has set its Q3 2025 guidance at EPS.

Insider Transactions at Surf Air Mobility

In other news, Director Tyler Painter sold 22,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $5.00, for a total transaction of $110,000.00. Following the completion of the transaction, the director directly owned 182 shares in the company, valued at $910. This trade represents a 99.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.00% of the company's stock.

Institutional Trading of Surf Air Mobility

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its position in Surf Air Mobility by 669.8% in the 2nd quarter. Osaic Holdings Inc. now owns 17,244 shares of the company's stock valued at $64,000 after acquiring an additional 15,004 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Surf Air Mobility by 1,235.8% during the second quarter. Tower Research Capital LLC TRC now owns 19,009 shares of the company's stock worth $70,000 after acquiring an additional 17,586 shares during the period. HRT Financial LP purchased a new position in Surf Air Mobility during the second quarter worth approximately $2,212,000. DNB Asset Management AS purchased a new position in Surf Air Mobility during the second quarter worth approximately $287,000. Finally, Geode Capital Management LLC lifted its position in shares of Surf Air Mobility by 14.6% in the second quarter. Geode Capital Management LLC now owns 127,602 shares of the company's stock valued at $471,000 after acquiring an additional 16,273 shares in the last quarter. 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.