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

Blade Air Mobility, Inc. (NASDAQ:BLDEGet Rating) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 4,080,000 shares, a decrease of 16.0% from the March 31st total of 4,860,000 shares. Based on an average trading volume of 684,200 shares, the short-interest ratio is presently 6.0 days. Approximately 8.7% of the shares of the stock are short sold.

BLDE stock opened at $8.46 on Wednesday. The company’s 50 day simple moving average is $8.06 and its 200-day simple moving average is $8.18. Blade Air Mobility has a 12 month low of $5.34 and a 12 month high of $11.99. The firm has a market capitalization of $599.36 million, a PE ratio of -8.46 and a beta of -0.16.

Blade Air Mobility (NASDAQ:BLDEGet Rating) last posted its earnings results on Thursday, February 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. The firm had revenue of $24.62 million for the quarter, compared to analyst estimates of $15.96 million. Blade Air Mobility had a negative return on equity of 14.04% and a negative net margin of 54.97%. Sell-side analysts expect that Blade Air Mobility will post -0.65 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC increased its position in Blade Air Mobility by 5.5% during the 1st quarter. ARK Investment Management LLC now owns 8,376,430 shares of the company’s stock worth $71,116,000 after purchasing an additional 434,873 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Blade Air Mobility by 34.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,332,774 shares of the company’s stock worth $38,258,000 after buying an additional 1,110,780 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Blade Air Mobility by 33.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 4,332,774 shares of the company’s stock valued at $38,518,000 after buying an additional 1,075,940 shares during the last quarter. State Street Corp lifted its stake in shares of Blade Air Mobility by 1,982.4% during the fourth quarter. State Street Corp now owns 3,127,821 shares of the company’s stock valued at $27,619,000 after buying an additional 2,977,621 shares during the period. Finally, BlackRock Inc. boosted its position in Blade Air Mobility by 15.3% during the fourth quarter. BlackRock Inc. now owns 876,234 shares of the company’s stock worth $7,737,000 after acquiring an additional 116,492 shares during the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Blade Air Mobility from a “sell” rating to a “hold” rating in a report on Friday, March 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $13.88.

Blade Air Mobility Company Profile (Get Rating)

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.

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