Blade Air Mobility (NASDAQ:BLDE) Research Coverage Started at Lake Street Capital

Lake Street Capital started coverage on shares of Blade Air Mobility (NASDAQ:BLDE) in a report published on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $6.50 price objective on the stock.

Separately, JPMorgan Chase & Co. lifted their target price on shares of 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 $3.38 on Wednesday. Blade Air Mobility has a 1 year low of $2.45 and a 1 year high of $5.17. The company has a 50 day simple moving average of $3.95 and a 200-day simple moving average of $3.66. The company has a market capitalization of $264.70 million, a P/E ratio of -4.90 and a beta of 1.14.

Insider Activity at Blade Air Mobility

In other Blade Air Mobility news, General Counsel Melissa M. Tomkiel sold 22,486 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.01, for a total value of $112,654.86. Following the completion of the transaction, the general counsel now owns 1,039,140 shares in the company, valued at $5,206,091.40. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO William A. Heyburn sold 103,670 shares of Blade Air Mobility stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.02, for a total transaction of $520,423.40. Following the sale, the chief financial officer now directly owns 1,223,120 shares of the company’s stock, valued at approximately $6,140,062.40. This trade represents a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,441 shares of company stock worth $830,289. Insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Blade Air Mobility

Several institutional investors have recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of Blade Air Mobility by 0.7% during the 4th quarter. Northern Trust Corp now owns 475,169 shares of the company’s stock worth $2,019,000 after purchasing an additional 3,532 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Blade Air Mobility by 3.1% during the 4th quarter. Bank of New York Mellon Corp now owns 138,561 shares of the company’s stock worth $589,000 after purchasing an additional 4,118 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Blade Air Mobility by 30.0% during the 4th quarter. SG Americas Securities LLC now owns 22,970 shares of the company’s stock worth $98,000 after purchasing an additional 5,297 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Blade Air Mobility by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,341 shares of the company’s stock worth $69,000 after purchasing an additional 5,377 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Blade Air Mobility by 18.9% during the 3rd quarter. Stifel Financial Corp now owns 35,755 shares of the company’s stock worth $105,000 after purchasing an additional 5,683 shares during the last quarter. 47.36% of the stock is owned by hedge funds and other institutional investors.

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.