Blade Air Mobility (NASDAQ:BLDE) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Blade Air Mobility (NASDAQ:BLDE) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $6.50 target price on the stock.

Separately, JPMorgan Chase & Co. upped their price target on Blade Air Mobility from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th.

Blade Air Mobility Price Performance

Shares of NASDAQ BLDE opened at $3.60 on Wednesday. The business has a 50-day moving average of $3.97 and a two-hundred day moving average of $3.66. The company has a market capitalization of $281.93 million, a price-to-earnings ratio of -5.22 and a beta of 1.14. Blade Air Mobility has a 1 year low of $2.45 and a 1 year high of $5.17.

Insider Buying and Selling

In related news, CFO William A. Heyburn sold 39,285 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.02, for a total value of $197,210.70. Following the completion of the sale, the chief financial officer now directly owns 1,336,826 shares of the company’s stock, valued at $6,710,866.52. This represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Melissa M. Tomkiel sold 22,135 shares of Blade Air Mobility stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $5.02, for a total value of $111,117.70. Following the transaction, the general counsel now directly owns 1,061,626 shares in the company, valued at approximately $5,329,362.52. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,391 shares of company stock worth $1,060,958 in the last ninety days. 18.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blade Air Mobility

Large investors have recently modified their holdings of the company. ARK Investment Management LLC raised its position in Blade Air Mobility by 12.0% in the 3rd quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock valued at $21,219,000 after purchasing an additional 774,114 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Blade Air Mobility by 245.6% in the third quarter. GSA Capital Partners LLP now owns 378,240 shares of the company’s stock valued at $1,112,000 after buying an additional 268,802 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Blade Air Mobility in the third quarter valued at about $52,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Blade Air Mobility by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 170,117 shares of the company’s stock worth $500,000 after buying an additional 10,272 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Blade Air Mobility by 610.0% during the third quarter. Cerity Partners LLC now owns 303,439 shares of the company’s stock worth $892,000 after buying an additional 260,699 shares during the last quarter. 47.36% of the stock is owned by institutional investors and hedge funds.

About Blade Air Mobility

Blade Air Mobility, Inc provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.