Canaccord Genuity Group Cuts Surf Air Mobility (NYSE:SRFM) Price Target to $2.25

Surf Air Mobility (NYSE:SRFM) had its price target lowered by stock analysts at Canaccord Genuity Group from $3.50 to $2.25 in a report released on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 54.64% from the company’s current price.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Surf Air Mobility in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Surf Air Mobility has a consensus rating of “Hold” and a consensus price target of $3.13.

Surf Air Mobility Stock Down 0.3%

NYSE SRFM traded down $0.01 during trading hours on Monday, hitting $1.46. 3,214,913 shares of the company were exchanged, compared to its average volume of 3,474,729. Surf Air Mobility has a 52 week low of $1.40 and a 52 week high of $9.91. The stock has a 50-day moving average price of $2.24 and a 200 day moving average price of $3.01. The stock has a market cap of $112.02 million, a PE ratio of -0.42 and a beta of 3.00.

Institutional Trading of Surf Air Mobility

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Surf Air Mobility by 233.2% during the third quarter. Vanguard Group Inc. now owns 1,886,429 shares of the company’s stock valued at $8,093,000 after buying an additional 1,320,353 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Surf Air Mobility by 81,240.1% during the 3rd quarter. Raymond James Financial Inc. now owns 952,492 shares of the company’s stock worth $4,086,000 after acquiring an additional 951,321 shares during the last quarter. HRT Financial LP purchased a new position in Surf Air Mobility during the 2nd quarter valued at $2,212,000. Millennium Management LLC boosted its holdings in Surf Air Mobility by 3,450.8% during the 3rd quarter. Millennium Management LLC now owns 488,272 shares of the company’s stock valued at $2,095,000 after acquiring an additional 474,521 shares during the period. Finally, UBS Group AG grew its position in Surf Air Mobility by 246.3% in the 3rd quarter. UBS Group AG now owns 447,260 shares of the company’s stock valued at $1,919,000 after acquiring an additional 318,108 shares during the last quarter. 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.