Insider Buying: Surf Air Mobility Inc. (NYSE:SRFM) Director Acquires 17,237 Shares of Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Sudhin Shahani bought 17,237 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $3.43 per share, with a total value of $59,122.91. Following the purchase, the director now owns 360,877 shares of the company’s stock, valued at $1,237,808.11. The trade was a 5.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Surf Air Mobility Price Performance

Shares of NYSE:SRFM traded up $1.98 during trading on Thursday, reaching $5.49. The company had a trading volume of 2,485,791 shares, compared to its average volume of 333,974. Surf Air Mobility Inc. has a fifty-two week low of $0.90 and a fifty-two week high of $11.83. The stock’s fifty day moving average price is $2.77 and its 200 day moving average price is $2.23. The firm has a market capitalization of $85.14 million, a price-to-earnings ratio of -0.35 and a beta of 3.24.

Hedge Funds Weigh In On Surf Air Mobility

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Surf Air Mobility Inc. (NYSE:SRFM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned 0.18% of Surf Air Mobility at the end of the most recent reporting period. 17.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price objective on shares of Surf Air Mobility from $2.20 to $4.00 and gave the company a “hold” rating in a report on Friday, December 13th.

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.