Blade Air Mobility, Inc. (NASDAQ:BLDE) Sees Large Drop in Short Interest

Blade Air Mobility, Inc. (NASDAQ:BLDE) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 2,670,000 shares, a drop of 11.6% from the December 15th total of 3,020,000 shares. Currently, 4.8% of the shares of the company are sold short. Based on an average daily volume of 962,300 shares, the days-to-cover ratio is presently 2.8 days.

Blade Air Mobility Price Performance

Shares of Blade Air Mobility stock remained flat at $4.11 during midday trading on Friday. The company had a trading volume of 587,389 shares, compared to its average volume of 867,741. Blade Air Mobility has a 1-year low of $2.45 and a 1-year high of $5.17. The firm has a 50 day simple moving average of $4.07 and a 200 day simple moving average of $3.57.

Wall Street Analyst Weigh In

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

Insider Transactions at Blade Air Mobility

In other news, 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 transaction of $111,117.70. Following the sale, the general counsel now owns 1,061,626 shares of the company’s stock, valued at approximately $5,329,362.52. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William A. Heyburn sold 23,815 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 $119,551.30. Following the sale, the chief financial officer now directly owns 1,376,111 shares in the company, valued at $6,908,077.22. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,445,254 shares of company stock valued at $8,365,549. 18.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blade Air Mobility

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. bought a new position in Blade Air Mobility in the 2nd quarter valued at $38,000. EverSource Wealth Advisors LLC bought a new position in Blade Air Mobility in the 2nd quarter valued at $40,000. Cobblestone Capital Advisors LLC NY bought a new position in Blade Air Mobility in the 3rd quarter valued at $35,000. SG Americas Securities LLC bought a new position in Blade Air Mobility in the 3rd quarter valued at $52,000. Finally, Intech Investment Management LLC bought a new position in Blade Air Mobility in the 3rd quarter valued at $52,000. Institutional investors own 47.36% of the company’s stock.

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.