Insider Buying: Surf Air Mobility Inc. (NYSE:SRFM) Director Buys $59,122.91 in Stock

Surf Air Mobility Inc. (NYSE:SRFM) Director Sudhin Shahani purchased 17,237 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $3.43 per share, with a total value of $59,122.91. Following the acquisition, the director now directly owns 360,877 shares of the company’s stock, valued at $1,237,808.11. This trade represents a 5.02 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Surf Air Mobility Stock Performance

NYSE SRFM opened at $5.61 on Friday. The company has a market cap of $87.00 million, a PE ratio of -0.35 and a beta of 3.30. The firm’s 50 day moving average price is $2.92 and its 200-day moving average price is $2.28. Surf Air Mobility Inc. has a 52-week low of $0.90 and a 52-week high of $11.83.

Institutional Trading of Surf Air Mobility

An institutional investor recently bought a new position in Surf Air Mobility stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Surf Air Mobility Inc. (NYSE:SRFM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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. Hedge funds and other institutional investors own 17.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their target price on Surf Air Mobility from $2.20 to $4.00 and gave the stock a “hold” rating in a report on Friday, December 13th.

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.