ProShare Advisors LLC Increases Stake in Blade Air Mobility, Inc. (NASDAQ:BLDE)

ProShare Advisors LLC lifted its stake in Blade Air Mobility, Inc. (NASDAQ:BLDE) by 49.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,341 shares of the company’s stock after purchasing an additional 5,377 shares during the quarter. ProShare Advisors LLC’s holdings in Blade Air Mobility were worth $69,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in shares of Blade Air Mobility in the 4th quarter valued at approximately $34,000. Virtu Financial LLC purchased a new position in Blade Air Mobility during the 4th quarter worth approximately $53,000. Balyasny Asset Management L.P. purchased a new position in Blade Air Mobility during the 4th quarter worth approximately $62,000. SG Americas Securities LLC raised its position in 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 last quarter. Finally, Intech Investment Management LLC raised its position in Blade Air Mobility by 55.4% during the 4th quarter. Intech Investment Management LLC now owns 27,742 shares of the company’s stock worth $118,000 after buying an additional 9,887 shares during the last quarter. 47.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Blade Air Mobility Stock Performance

BLDE opened at $3.52 on Wednesday. Blade Air Mobility, Inc. has a 12-month low of $2.35 and a 12-month high of $5.17. The firm has a market capitalization of $285.18 million, a PE ratio of -5.10 and a beta of 1.54. The firm has a 50 day moving average of $2.97 and a two-hundred day moving average of $3.51.

Blade Air Mobility (NASDAQ:BLDE) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $54.31 million during the quarter, compared to analyst estimates of $49.30 million. As a group, analysts predict that Blade Air Mobility, Inc. will post -0.35 EPS for the current fiscal year.

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.