Surf Air Mobility (NYSE:SRFM) Price Target Lowered to $2.25 at Canaccord Genuity Group

Surf Air Mobility (NYSE:SRFM) had its price target trimmed by Canaccord Genuity Group from $3.50 to $2.25 in a report released on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Surf Air Mobility in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.13.

Surf Air Mobility Price Performance

Surf Air Mobility stock opened at $1.43 on Monday. The company has a market capitalization of $109.86 million, a PE ratio of -0.41 and a beta of 3.00. Surf Air Mobility has a one year low of $1.40 and a one year high of $9.91. The business has a 50 day simple moving average of $2.21 and a 200 day simple moving average of $2.98.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 6,565 shares during the last quarter. Bank of America Corp DE boosted its stake in Surf Air Mobility by 7,157.9% in the third 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 in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Surf Air Mobility during the fourth quarter worth $45,000. J.W. Cole Advisors Inc. bought a new stake in shares of Surf Air Mobility during the third quarter worth $47,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Surf Air Mobility in the third quarter valued at $47,000. 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.