The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Surf Air Mobility Inc shares valued at $1,585,917 were purchased by Palantir Technologies Inc. on Oct 02 ’24. At $1.25 per share, Palantir Technologies Inc. acquired 1,270,869 shares. The insider’s holdings grew to 2,730,166 shares worth approximately $10.21 million following the completion of this transaction.
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Also, Palantir Technologies Inc. sold 3,100 shares, netting a total of over 4,248 in proceeds. Following the sale of shares at $1.37 each, the insider now holds 1,459,297 shares.
Before that, Palantir Technologies Inc. had sold 4,102 shares from its account. In a trade valued at $5,314, the 10% Owner traded Surf Air Mobility Inc shares for $1.30 each. Upon closing the transaction, the insider’s holdings decreased to 4,102 shares, worth approximately $5.47 million.
As published in a research note from Canaccord Genuity on May 15, 2024, Surf Air Mobility Inc [SRFM] has been rated down from a Buy to a Hold and the price target has been revised to $1 from $2.50. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in early September. As of August 28, 2023, Canaccord Genuity has initiated its “Buy” rating for SRFM. Earlier on August 22, 2023, Bernstein initiated its rating. Their recommendation was “an Outperform” for SRFM stock.
Analyzing SRFM Stock Performance
During the last five days, there has been a surge of approximately 82.44%. Over the course of the year, Surf Air Mobility Inc shares have dropped approximately -65.53%. Shares of the company reached a 52-week high of $10.85 on 01/02/24 and a 52-week low of $0.90 on 09/03/24. A 50-day SMA is recorded $1.94, while a 200-day SMA reached $3.12. Nevertheless, trading volume fell to 0.36 million shares from 1.45 million shares the previous day.
Support And Resistance Levels for Surf Air Mobility Inc (SRFM)
According to the 24-hour chart, there is a support level at 3.51, which, if violated, would cause prices to drop to 3.28. In the upper region, resistance lies at 3.96. The next price resistance is at 4.18. RSI (Relative Strength Index) is 72.72 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.26, which suggests the price will increase in the coming days. Percent R is at 8.57%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
