Canaccord Genuity Group Cuts Surf Air Mobility (NYSE:SRFM) Price Target to $3.50

Surf Air Mobility (NYSE:SRFM) had its target price reduced by equities researchers at Canaccord Genuity Group from $3.75 to $3.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 33.33% from the company’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surf Air Mobility in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.50.

Surf Air Mobility Price Performance

Shares of NYSE SRFM traded down $0.07 during midday trading on Friday, reaching $2.63. The company’s stock had a trading volume of 1,865,203 shares, compared to its average volume of 3,305,077. The stock has a market capitalization of $112.43 million, a P/E ratio of -1.06 and a beta of 2.85. Surf Air Mobility has a 12-month low of $1.50 and a 12-month high of $9.91. The firm has a 50 day moving average price of $4.26 and a 200-day moving average price of $3.89.

Surf Air Mobility (NYSE:SRFM) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.03). The firm had revenue of $29.17 million for the quarter. Surf Air Mobility has set its Q4 2025 guidance at EPS.

Hedge Funds Weigh In On Surf Air Mobility

A number of institutional investors have recently made changes to their positions in SRFM. JPMorgan Chase & Co. lifted its position in shares of Surf Air Mobility by 18,757.1% in 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 in the last quarter. XTX Topco Ltd grew its holdings in shares of Surf Air Mobility by 44.6% during the first quarter. XTX Topco Ltd now owns 16,906 shares of the company’s stock worth $45,000 after buying an additional 5,214 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Surf Air Mobility in the third quarter valued at approximately $47,000. Jefferies Financial Group Inc. purchased a new stake in shares of Surf Air Mobility during the third quarter worth about $47,000. Finally, Private Advisor Group LLC acquired a new position in shares of Surf Air Mobility in the third quarter worth about $48,000. 17.68% of the stock is 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.