Institutional Venture Management XV LLC Has $399,000 Stake in Surf Air Mobility Inc. (NYSE:SRFM)

Institutional Venture Management XV LLC lowered its position in shares of Surf Air Mobility Inc. (NYSE:SRFM) by 49.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,644 shares of the company’s stock after selling 248,156 shares during the quarter. Surf Air Mobility accounts for 0.2% of Institutional Venture Management XV LLC’s holdings, making the stock its 5th biggest position. Institutional Venture Management XV LLC owned approximately 0.35% of Surf Air Mobility worth $399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Palantir Technologies Inc. bought a new stake in Surf Air Mobility during the third quarter worth about $3,294,000. Rathbones Group PLC bought a new stake in shares of Surf Air Mobility during the 3rd quarter worth approximately $1,846,000. Baker Avenue Asset Management LP acquired a new stake in shares of Surf Air Mobility in the 3rd quarter valued at approximately $217,000. Bank of New York Mellon Corp bought a new position in shares of Surf Air Mobility in the third quarter valued at $38,000. Finally, Ieq Capital LLC acquired a new position in Surf Air Mobility during the third quarter worth $34,000. 17.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased their price objective on shares of Surf Air Mobility from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Monday, April 1st.

Surf Air Mobility Stock Up 1.5 %

Shares of NYSE SRFM traded up $0.01 during midday trading on Monday, hitting $0.46. 333,395 shares of the company’s stock were exchanged, compared to its average volume of 381,056. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.13 and a current ratio of 0.13. Surf Air Mobility Inc. has a 12 month low of $0.38 and a 12 month high of $5.00. The company’s 50 day moving average price is $0.83 and its 200 day moving average price is $1.03.

Surf Air Mobility (NYSE:SRFM) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($1.00). The business had revenue of $26.84 million during the quarter, compared to analyst estimates of $26.19 million. Equities research analysts predict that Surf Air Mobility Inc. will post -0.79 earnings per share for the current year.

Surf Air Mobility 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.