Surf Air Mobility (NYSE:SRFM) CEO Sells $74,518.04 in Stock

Surf Air Mobility Inc. (NYSE:SRFM) CEO Deanna Leigh White sold 56,884 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1.31, for a total value of $74,518.04. Following the transaction, the chief executive officer owned 899,130 shares in the company, valued at approximately $1,177,860.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Deanna Leigh White also recently made the following trade(s):

• On Thursday, April 16th, Deanna Leigh White sold 27,720 shares of Surf Air Mobility stock. The stock was sold at an average price of $1.31, for a total value of $36,313.20.

Surf Air Mobility Stock Down 5.3%

Shares of Surf Air Mobility stock traded down $0.08 on Friday, hitting $1.35. 3,674,268 shares of the company were exchanged, compared to its average volume of 5,982,958. The stock has a market capitalization of $133.83 million, a price-to-earnings ratio of -0.39 and a beta of 2.72. The company has a 50-day moving average price of $1.40 and a 200 day moving average price of $2.15. Surf Air Mobility Inc. has a 1-year low of $1.01 and a 1-year high of $9.91.

Analyst Ratings Changes

Several analysts have recently commented on SRFM shares. Alliance Global Partners started coverage on shares of Surf Air Mobility in a research report on Friday, May 1st. They set a “buy” rating and a $2.75 price target on the stock. Canaccord Genuity Group reduced their price target on shares of Surf Air Mobility from $3.50 to $2.25 and set a “hold” rating on the stock in a research report on Monday, March 16th. Weiss Ratings lowered shares of Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Northland Securities started coverage on shares of Surf Air Mobility in a research report on Thursday. They set an “outperform” rating and a $5.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.50.

Institutional Trading of Surf Air Mobility

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Surf Air Mobility by 18,757.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company’s stock valued at $28,000 after buying an additional 6,565 shares during the period. Bank of America Corp DE raised its position in shares of Surf Air Mobility by 7,157.9% during the 3rd quarter. Bank of America Corp DE now owns 10,161 shares of the company’s stock valued at $44,000 after buying an additional 10,021 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Surf Air Mobility during the 3rd quarter valued at approximately $47,000. Jefferies Financial Group Inc. purchased a new stake in Surf Air Mobility in the third quarter valued at approximately $47,000. Finally, Private Advisor Group LLC purchased a new stake in Surf Air Mobility in the third quarter valued at approximately $48,000. 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.