Surf Air Mobility (NYSE:SRFM) Announces Quarterly Earnings Results

Surf Air Mobility (NYSE:SRFM) announced its quarterly earnings results on Tuesday. The company reported $0.59 earnings per share for the quarter, Zacks reports.

Surf Air Mobility Price Performance

SRFM stock traded down $0.32 during midday trading on Tuesday, hitting $3.85. The stock had a trading volume of 195,476 shares, compared to its average volume of 405,589. The company’s 50-day moving average price is $4.12 and its 200 day moving average price is $3.11. The firm has a market cap of $65.12 million, a PE ratio of -0.24 and a beta of 2.50. Surf Air Mobility has a 12-month low of $0.90 and a 12-month high of $7.14.

Insiders Place Their Bets

In other Surf Air Mobility news, Director Sudhin Shahani purchased 17,237 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $3.43 per share, for a total transaction 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 represents a 5.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SRFM. HC Wainwright assumed coverage on shares of Surf Air Mobility in a report on Friday, March 7th. They issued a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group increased their target price on Surf Air Mobility from $2.20 to $4.00 and gave the company 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.