JPMorgan Chase & Co. Issues Positive Forecast for Blade Air Mobility (NASDAQ:BLDE) Stock Price

Blade Air Mobility (NASDAQ:BLDE) had its price objective lifted by JPMorgan Chase & Co. from $5.00 to $6.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Blade Air Mobility Stock Performance

BLDE stock opened at $3.60 on Tuesday. The firm’s 50-day moving average price is $3.29 and its two-hundred day moving average price is $3.28. The stock has a market capitalization of $280.55 million, a price-to-earnings ratio of -5.45 and a beta of 1.09. Blade Air Mobility has a 12-month low of $2.12 and a 12-month high of $4.24.

Blade Air Mobility (NASDAQ:BLDE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Blade Air Mobility had a negative return on equity of 10.86% and a negative net margin of 20.64%. The company had revenue of $67.95 million for the quarter, compared to the consensus estimate of $62.86 million. Equities analysts predict that Blade Air Mobility will post -0.36 EPS for the current year.

Institutional Trading of Blade Air Mobility

Several large investors have recently added to or reduced their stakes in BLDE. CWM LLC lifted its position in shares of Blade Air Mobility by 764.5% in the 2nd quarter. CWM LLC now owns 7,374 shares of the company’s stock worth $26,000 after purchasing an additional 6,521 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Blade Air Mobility by 70.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 21,850 shares of the company’s stock valued at $62,000 after buying an additional 9,000 shares during the period. Sei Investments Co. bought a new stake in Blade Air Mobility during the second quarter worth about $38,000. EverSource Wealth Advisors LLC purchased a new stake in Blade Air Mobility in the second quarter worth about $40,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Blade Air Mobility during the second quarter valued at approximately $50,000. Institutional investors own 47.36% of the company’s stock.

Blade Air Mobility Company Profile

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.