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

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

Surf Air Mobility Trading Down 7.6 %

Shares of SRFM traded down $0.32 during midday trading on Tuesday, reaching $3.85. 195,476 shares of the company were exchanged, compared to its average volume of 405,589. The stock has a 50-day moving average price of $4.12 and a 200-day moving average price of $3.11. The company has a market cap of $65.12 million, a price-to-earnings ratio of -0.24 and a beta of 2.50. Surf Air Mobility has a 1-year low of $0.90 and a 1-year high of $7.14.

Insiders Place Their Bets

In other Surf Air Mobility news, Director Sudhin Shahani purchased 17,237 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $3.43 per share, for a total transaction of $59,122.91. Following the completion of the purchase, the director now owns 360,877 shares in the company, valued at $1,237,808.11. The trade was a 5.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SRFM. HC Wainwright began coverage on shares of Surf Air Mobility in a report on Friday, March 7th. They set a “buy” rating and a $12.00 target price on the stock. Canaccord Genuity Group boosted their price objective on Surf Air Mobility from $2.20 to $4.00 and gave the stock a “hold” rating in a research note 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.