Equities Analysts Offer Predictions for SRFM FY2030 Earnings

Surf Air Mobility Inc. (NYSE:SRFM) – HC Wainwright reduced their FY2030 earnings per share estimates for Surf Air Mobility in a research note issued on Monday, November 9th. HC Wainwright analyst A. Dayal now expects that the company will post earnings of $0.65 per share for the year, down from their prior forecast of $0.66. HC Wainwright currently has a “Buy” rating on the stock. The consensus estimate for Surf Air Mobility’s current full-year earnings is ($0.68) per share.

Surf Air Mobility (NYSE:SRFM) last issued its earnings results on Thursday, November 5th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The company had revenue of $36.46 million during the quarter.

Several other analysts have also recently commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Monday, August 17th. Wall Street Zen raised shares of Surf Air Mobility from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Surf Air Mobility in a research note on Thursday, October 22nd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Surf Air Mobility has an average rating of “Hold” and a consensus target price of $2.92.

Surf Air Mobility Price Performance

SRFM opened at $0.70 on Tuesday. Surf Air Mobility has a 12-month low of $0.46 and a 12-month high of $3.73. The firm has a 50 day moving average of $0.80 and a two-hundred day moving average of $1.16.

Hedge Funds Weigh In On Surf Air Mobility

A number of institutional investors have recently modified their holdings of the stock. J. Derek Lewis & Associates Inc. increased its holdings in Surf Air Mobility by 12.4% in the third quarter. J. Derek Lewis & Associates Inc. now owns 136,000 shares of the company’s stock valued at $163,000 after buying an additional 15,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Surf Air Mobility in the first quarter worth about $26,000. Parrish Capital LLC acquired a new position in shares of Surf Air Mobility in the second quarter worth about $27,000. Ritholtz Wealth Management acquired a new position in shares of Surf Air Mobility in the third quarter worth about $37,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Surf Air Mobility during the 2nd quarter worth about $53,000. Hedge funds and other 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.