Surf Air Mobility Inc (NYSE: SRFM) – Not A Clear Buying Opportunity?

Surf Air Mobility Inc (SRFM) concluded trading on Thursday at a closing price of $0.84, with 0.41 million shares of worth about $0.35 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -49.22% during that period and on March 28, 2024 the price saw a gain of about 5.24%. Currently the company’s common shares owned by public are about 69.88M shares, out of which, 54.47M shares are available for trading.

However, the stock later moved at a day high price of 0.8676, or with a gain of 5.24%. Stock saw a price change of -9.76% in past 5 days and over the past one month there was a price change of -19.71%. Over the period of past 52 weeks, stock dropped to lowest price of $0.65 but also hit the highest price of $5.00 during that period. The average intraday trading volume for Surf Air Mobility Inc shares is 345.60K. The stock is currently trading -12.80% below its 20-day simple moving average (SMA20), while that difference is down -21.44% for SMA50 and it goes to -34.46% lower than SMA200.

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Surf Air Mobility Inc (NYSE: SRFM) currently have 69.88M outstanding shares and institutions hold larger chunk of about 9.96% of that.

The stock has a current market capitalization of $62.07M. It has Quick Ratio of 0.27 while making debt-to-equity ratio of 2.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SRFM, volatility over the week remained 11.04% while standing at 9.77% over the month.

Analysts are in expectations that Surf Air Mobility Inc (SRFM) stock would likely to be making an EPS of -$0.28 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.63 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.28 which is -$0.28 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 89.20% while it is estimated to increase by 24.27% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on September 08, 2023 offering an Overweight rating for the stock and assigned a target price of $4 to it. Coverage by Canaccord Genuity stated Surf Air Mobility Inc (SRFM) stock as a Buy in their note to investors on August 28, 2023, suggesting a price target of $3 for the stock.

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