Surf Air Mobility Inc. (SRFM) – What Are Brokerages Thinking About This Stock?

Surf Air Mobility Inc. (NYSE:SRFM) has received an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $2.92.

Several brokerages have issued reports on SRFM. HC Wainwright reiterated a “buy” rating on shares of Surf Air Mobility in a research report on Tuesday, August 11th. Wall Street Zen lowered Surf Air Mobility from a “hold” rating to a “sell” rating in a research note on Monday, August 17th. Canaccord Genuity Group decreased their target price on Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Surf Air Mobility in a report on Thursday.

Surf Air Mobility Trading Down 3.1%

NYSE:SRFM opened at $0.78 on Friday. Surf Air Mobility has a 1 year low of $0.46 and a 1 year high of $4.50. The firm has a 50 day moving average of $0.79 and a 200-day moving average of $0.96. The stock has a market capitalization of $95.82 million, a P/E ratio of -0.48 and a beta of 2.51.

Surf Air Mobility (NYSE:SRFM) last announced its earnings results on Monday, August 10th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.11). The firm had revenue of $29.51 million during the quarter. As a group, analysts forecast that Surf Air Mobility will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Surf Air Mobility during the 1st quarter worth about $26,000. Parrish Capital LLC acquired a new position in shares of Surf Air Mobility during the second quarter worth approximately $27,000. Squarepoint Ops LLC acquired a new position in shares of Surf Air Mobility during the second quarter worth approximately $53,000. Engineers Gate Manager LP grew its stake in shares of Surf Air Mobility by 147.4% during the second quarter. Engineers Gate Manager LP now owns 96,389 shares of the company’s stock valued at $112,000 after purchasing an additional 57,423 shares during the last quarter. Finally, J. Derek Lewis & Associates Inc. grew its stake in shares of Surf Air Mobility by 84.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 293,000 shares of the company’s stock valued at $337,000 after purchasing an additional 134,000 shares during the last quarter. Institutional investors and hedge funds 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.