Blade Air Mobility, Inc. (NASDAQ:BLDE) Sees Significant Decrease in Short Interest

Blade Air Mobility, Inc. (NASDAQ:BLDE) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,110,000 shares, a drop of 20.7% from the March 15th total of 2,660,000 shares. Based on an average daily volume of 713,300 shares, the short-interest ratio is presently 3.0 days. Currently, 3.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital started coverage on shares of Blade Air Mobility in a research report on Wednesday, February 26th. They issued a “buy” rating and a $6.50 target price for the company.

Institutional Investors Weigh In On Blade Air Mobility

A number of institutional investors and hedge funds have recently made changes to their positions in BLDE. Deane Retirement Strategies Inc. increased its holdings in Blade Air Mobility by 2.5% during the first quarter. Deane Retirement Strategies Inc. now owns 256,237 shares of the company’s stock worth $700,000 after buying an additional 6,355 shares during the last quarter. City State Bank bought a new position in shares of Blade Air Mobility in the 1st quarter valued at about $82,000. Sunbelt Securities Inc. increased its stake in shares of Blade Air Mobility by 66,255.0% during the 4th quarter. Sunbelt Securities Inc. now owns 13,271 shares of the company’s stock worth $58,000 after purchasing an additional 13,251 shares during the last quarter. Connective Capital Management LLC acquired a new position in shares of Blade Air Mobility during the 4th quarter worth about $434,000. Finally, Squarepoint Ops LLC raised its holdings in shares of Blade Air Mobility by 38.5% in the 4th quarter. Squarepoint Ops LLC now owns 44,305 shares of the company’s stock valued at $188,000 after purchasing an additional 12,311 shares during the period. Institutional investors own 47.36% of the company’s stock.

Blade Air Mobility Stock Performance

BLDE opened at $2.62 on Friday. The business’s 50-day simple moving average is $3.06 and its 200 day simple moving average is $3.61. Blade Air Mobility has a 52-week low of $2.35 and a 52-week high of $5.17. The firm has a market capitalization of $208.80 million, a PE ratio of -3.80 and a beta of 1.41.

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.