Surf Air Mobility (NYSE:SRFM) Trading 0.8% Higher – Still a Buy?

Shares of Surf Air Mobility Inc. (NYSE:SRFM) traded up 0.8% during trading on Thursday . The company traded as high as $4.29 and last traded at $4.17. 162,485 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 358,503 shares. The stock had previously closed at $4.14.

Wall Street Analysts Forecast Growth

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

Surf Air Mobility Trading Up 5.7 %

The stock has a market cap of $69.02 million, a P/E ratio of -0.28 and a beta of 2.35. The company’s 50 day moving average price is $4.28 and its two-hundred day moving average price is $2.70.

Insiders Place Their Bets

In related news, Director Sudhin Shahani acquired 17,237 shares of the stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $3.43 per share, with a total value of $59,122.91. Following the transaction, the director now directly owns 360,877 shares in the company, valued at approximately $1,237,808.11. This represents a 5.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.10% of the company’s stock.

Institutional Investors 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 Surf Air Mobility Inc. (NYSE:SRFM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,059 shares of the company’s stock, valued at approximately $31,000. Gordian Capital Singapore Pte Ltd owned approximately 0.18% of Surf Air Mobility at the end of the most recent reporting period. 17.68% of the stock is owned by institutional investors.

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.