Canaccord Genuity Group Issues Pessimistic Forecast for Surf Air Mobility (NYSE:SRFM) Stock Price

Surf Air Mobility (NYSE:SRFM) had its price target reduced by stock analysts at Canaccord Genuity Group from $3.75 to $3.50 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 33.33% from the company’s previous close.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Surf Air Mobility in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Surf Air Mobility has a consensus rating of “Hold” and a consensus target price of $6.50.

Surf Air Mobility Stock Performance

Shares of SRFM traded down $0.07 during midday trading on Friday, hitting $2.63. 1,865,203 shares of the stock traded hands, compared to its average volume of 3,305,077. Surf Air Mobility has a 1-year low of $1.50 and a 1-year high of $9.91. The business’s 50 day moving average price is $4.26 and its two-hundred day moving average price is $3.89. The firm has a market capitalization of $112.43 million, a PE ratio of -1.06 and a beta of 2.85.

Surf Air Mobility (NYSE:SRFM) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.03). The company had revenue of $29.17 million for the quarter. Surf Air Mobility has set its Q4 2025 guidance at EPS.

Institutional Investors Weigh In On Surf Air Mobility

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRFM. Vanguard Group Inc. raised its holdings in Surf Air Mobility by 233.2% during the third quarter. Vanguard Group Inc. now owns 1,886,429 shares of the company’s stock worth $8,093,000 after acquiring an additional 1,320,353 shares in the last quarter. HRT Financial LP bought a new position in shares of Surf Air Mobility in the second quarter valued at $2,212,000. UBS Group AG grew its holdings in Surf Air Mobility by 246.3% in the 3rd quarter. UBS Group AG now owns 447,260 shares of the company’s stock valued at $1,919,000 after buying an additional 318,108 shares in the last quarter. DNB Asset Management AS acquired a new position in shares of Surf Air Mobility in the 2nd quarter worth approximately $287,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Surf Air Mobility in the 3rd quarter valued at $197,000. 17.68% of the stock is owned by institutional investors.

Surf Air Mobility Company Profile

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.