Surf Air Mobility (NYSE:SRFM) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Surf Air Mobility (NYSE:SRFM) from a sell rating to a hold rating in a research report report published on Sunday.

SRFM has been the subject of several other reports. Alliance Global Partners assumed coverage on Surf Air Mobility in a research note on Friday, May 1st. They issued a “buy” rating and a $2.75 target price for the company. Northland Securities initiated coverage on Surf Air Mobility in a research note on Thursday, May 7th. They set an “outperform” rating and a $5.00 price target on the stock. Canaccord Genuity Group set a $1.50 price target on Surf Air Mobility in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered Surf Air Mobility from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 24th. Two 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 data from MarketBeat.com, Surf Air Mobility currently has an average rating of “Hold” and an average target price of $3.08.

Surf Air Mobility Trading Down 0.5%

SRFM opened at $0.86 on Friday. Surf Air Mobility has a 1-year low of $0.67 and a 1-year high of $6.17. The company has a market cap of $91.25 million, a P/E ratio of -0.32 and a beta of 2.83. The company has a fifty day moving average price of $0.94 and a two-hundred day moving average price of $1.35.

Hedge Funds Weigh In On Surf Air Mobility

Large investors have recently added to or reduced their stakes in the business. J. Derek Lewis & Associates Inc. boosted its stake in Surf Air Mobility by 84.3% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 293,000 shares of the company’s stock valued at $337,000 after purchasing an additional 134,000 shares during the last quarter. Balefire LLC bought a new position in shares of Surf Air Mobility in the first quarter valued at approximately $376,000. Bank of New York Mellon Corp bought a new position in shares of Surf Air Mobility in the first quarter valued at approximately $26,000. Aristides Capital LLC purchased a new position in shares of Surf Air Mobility during the fourth quarter valued at approximately $195,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Surf Air Mobility during the fourth quarter valued at approximately $127,000. 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.