Surf Air Mobility (NYSE:SRFM) CEO Sells $36,313.20 in Stock

Surf Air Mobility Inc. (NYSE:SRFM) CEO Deanna Leigh White sold 27,720 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $1.31, for a total transaction of $36,313.20. Following the sale, the chief executive officer owned 675,530 shares of the company’s stock, valued at approximately $884,944.30. The trade was a 3.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Surf Air Mobility Price Performance

SRFM stock opened at $1.37 on Monday. Surf Air Mobility Inc. has a 1-year low of $1.04 and a 1-year high of $9.91. The firm has a fifty day moving average price of $1.60 and a two-hundred day moving average price of $2.48. The firm has a market cap of $105.10 million, a price-to-earnings ratio of -0.39 and a beta of 3.34.

Hedge Funds Weigh In On Surf Air Mobility

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rathbones Group PLC boosted its holdings in shares of Surf Air Mobility by 3.1% during the third quarter. Rathbones Group PLC now owns 166,759 shares of the company’s stock valued at $715,000 after acquiring an additional 5,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Surf Air Mobility by 18,757.1% during the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock valued at $28,000 after acquiring an additional 6,565 shares during the period. Bank of America Corp DE boosted its holdings in shares of Surf Air Mobility by 7,157.9% during the third quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after acquiring an additional 10,021 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Surf Air Mobility during the third quarter valued at $47,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Surf Air Mobility during the third quarter valued at $47,000. Institutional investors and hedge funds own 17.68% of the company’s stock.

Wall Street Analyst Weigh In

SRFM has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surf Air Mobility in a research note on Wednesday, January 21st. Canaccord Genuity Group lowered their target price on shares of Surf Air Mobility from $3.50 to $2.25 and set a “hold” rating for the company in a research note on Monday, March 16th. One 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. According to MarketBeat.com, Surf Air Mobility presently has a consensus rating of “Hold” and a consensus target price of $3.13.

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.