Surf Air Mobility Inc. (NYSE:SRFM) Given Consensus Recommendation of “Hold” by Analysts

Surf Air Mobility Inc. (NYSE:SRFM) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $2.9167.

A number of brokerages recently weighed in on SRFM. HC Wainwright restated a “buy” rating on shares of Surf Air Mobility in a report on Tuesday, August 11th. Wall Street Zen cut Surf Air Mobility from a “hold” rating to a “sell” rating in a research note on Monday, August 17th. Canaccord Genuity Group lowered their price target 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 downgraded Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 24th.

Surf Air Mobility Stock Performance

Shares of SRFM stock opened at $0.66 on Friday. The company has a market capitalization of $82.12 million, a price-to-earnings ratio of -0.42 and a beta of 2.81. Surf Air Mobility has a one year low of $0.63 and a one year high of $6.17. The company’s 50-day moving average is $0.79 and its 200 day moving average is $1.16.

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

Institutional Trading of Surf Air Mobility

A number of institutional investors have recently made changes to their positions in SRFM. Parrish Capital LLC bought a new stake in shares of Surf Air Mobility in the second quarter worth approximately $27,000. J. Derek Lewis & Associates Inc. lifted its position in 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 period. Balefire LLC purchased a new stake in Surf Air Mobility in the first quarter worth approximately $376,000. Bank of New York Mellon Corp purchased a new stake in Surf Air Mobility in the first quarter worth approximately $26,000. Finally, Aristides Capital LLC bought a new stake in Surf Air Mobility in the 4th quarter worth approximately $195,000. Hedge funds and other 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.