Surf Air Mobility (NYSE:SRFM) Stock Bumped Up to Hold by Wall Street Zen

Surf Air Mobility (NYSE:SRFM) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on SRFM. HC Wainwright reissued a “buy” rating on shares of Surf Air Mobility in a report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Surf Air Mobility in a research report on Thursday, October 22nd. Finally, Canaccord Genuity Group cut their price objective on Surf Air Mobility from $1.50 to $1.00 and set a “hold” rating for the company in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.92.

Surf Air Mobility Stock Up 2.6%

Shares of SRFM opened at $0.71 on Friday. The stock has a 50 day moving average price of $0.80 and a 200 day moving average price of $1.16. Surf Air Mobility has a 52-week low of $0.46 and a 52-week high of $3.73.

Surf Air Mobility (NYSE:SRFM) last released its earnings results on Thursday, November 5th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The firm had revenue of $36.46 million during the quarter. Research analysts anticipate that Surf Air Mobility will post -0.68 EPS for the current year.

Institutional Investors Weigh In On Surf Air Mobility

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in shares of Surf Air Mobility during the first quarter valued at about $26,000. Parrish Capital LLC acquired a new position in shares of Surf Air Mobility during the 2nd quarter valued at about $27,000. Ritholtz Wealth Management acquired a new stake in Surf Air Mobility during the 3rd quarter worth $37,000. Squarepoint Ops LLC bought a new stake in shares of Surf Air Mobility during the 2nd quarter valued at approximately $53,000. Finally, Engineers Gate Manager LP raised its position in Surf Air Mobility by 147.4% in the second quarter. Engineers Gate Manager LP now owns 96,389 shares of the company’s stock worth $112,000 after acquiring an additional 57,423 shares during the period. Institutional investors and hedge funds 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.