Balyasny Asset Management L.P. Makes New Investment in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Balyasny Asset Management L.P. purchased a new position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,600 shares of the company’s stock, valued at approximately $62,000.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in Blade Air Mobility during the fourth quarter worth approximately $34,000. Virtu Financial LLC acquired a new stake in shares of Blade Air Mobility in the fourth quarter worth $53,000. SG Americas Securities LLC boosted its holdings 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 buying an additional 5,297 shares during the period. Intech Investment Management LLC grew its stake in Blade Air Mobility by 55.4% in the 4th quarter. Intech Investment Management LLC now owns 27,742 shares of the company’s stock valued at $118,000 after buying an additional 9,887 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Blade Air Mobility by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 34,058 shares of the company’s stock valued at $145,000 after buying an additional 7,418 shares during the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

Blade Air Mobility Stock Down 2.6%

BLDE opened at $3.43 on Tuesday. The stock’s 50 day moving average price is $2.87 and its two-hundred day moving average price is $3.52. The firm has a market capitalization of $273.35 million, a P/E ratio of -4.97 and a beta of 1.54. Blade Air Mobility, Inc. has a 12-month low of $2.35 and a 12-month high of $5.17.

Blade Air Mobility (NASDAQ:BLDE) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07. Blade Air Mobility had a negative net margin of 21.28% and a negative return on equity of 12.16%. The business had revenue of $54.31 million for the quarter, compared to the consensus estimate of $49.30 million. As a group, analysts anticipate that Blade Air Mobility, Inc. will post -0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Blade Air Mobility 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.