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Surf Air Mobility INC. (SRFM) Director Tyler Painter reported selling shares of the company’s common stock in two transactions on June 24 and June 25, 2025, for a total of $184,345. According to InvestingPro data, the micro-cap company, currently valued at $49 million, has shown concerning financial health indicators with a weak overall score of 1.47.
The sales involved 18,583 shares at a weighted average price ranging from $4.00 to $4.01 per share on June 24. On June 25, Painter sold 22,000 shares at $5.00 per share. The stock, currently trading at $3.41, has experienced high volatility, notably surging 65% in the past week despite ongoing cash burn concerns.
The shares were held by the Tyler and Sonia Painter 2020 Trust. The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 20, 2024. Following the transactions, the trust’s holdings amount to 182 shares. Painter also directly owns 14,966 shares. For deeper insights into insider trading patterns and 14 additional key metrics, visit InvestingPro.
In other recent news, Surf Air Mobility has completed a registered direct offering, raising approximately $27 million through the sale of 10.8 million shares at $2.50 each. The company plans to use these funds to reduce debt and for general corporate purposes. Canaccord Genuity has adjusted its price target for Surf Air Mobility to $3.00 from $3.25 due to the dilution effect of this new share issuance, while maintaining a Hold rating. Surf Air Mobility is also advancing its corporate transformation plan, reporting a 10% increase in its controllable completion factor and a 21% improvement in on-time performance. The company secured a renewal of its Essential Air Service contract, adding approximately $9.9 million in subsidy revenue over four years. Additionally, Surf Air Mobility is deploying the beta version of its SurfOS software in collaboration with Palantir Technologies (NASDAQ:PLTR), which now holds about 20% of the company’s shares. The company aims to achieve profitability in its airline operations this year, with plans to expand its network further in 2026.
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