Blade Air Mobility, Inc. (NASDAQ:BLDE) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,254 shares of the company’s stock after selling 5,288 shares during the period. Millennium Management LLC owned approximately 0.10% of Blade Air Mobility worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Deutsche Bank AG lifted its stake in shares of Blade Air Mobility by 57.1% during the fourth quarter. Deutsche Bank AG now owns 37,776 shares of the company’s stock worth $161,000 after buying an additional 13,724 shares during the period. Bridgeway Capital Management LLC acquired a new stake in shares of Blade Air Mobility during the fourth quarter worth $244,000. Balyasny Asset Management L.P. acquired a new stake in shares of Blade Air Mobility during the fourth quarter worth $62,000. Bank of America Corp DE lifted its position in Blade Air Mobility by 39.5% during the fourth quarter. Bank of America Corp DE now owns 55,974 shares of the company’s stock valued at $238,000 after purchasing an additional 15,857 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Blade Air Mobility during the fourth quarter valued at $34,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Blade Air Mobility Price Performance

NASDAQ BLDE opened at $4.18 on Wednesday. The company has a market capitalization of $338.65 million, a PE ratio of -6.06 and a beta of 1.65. The company has a fifty day moving average of $3.08 and a 200 day moving average of $3.53. Blade Air Mobility, Inc. has a 1 year low of $2.35 and a 1 year high of $5.17.

Blade Air Mobility (NASDAQ:BLDE) last posted its earnings results on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. The company had revenue of $54.31 million during the quarter, compared to the consensus estimate of $49.30 million. Blade Air Mobility had a negative net margin of 21.28% and a negative return on equity of 12.16%. Research analysts expect that Blade Air Mobility, Inc. will post -0.35 earnings per share for the current year.

Analyst Ratings Changes

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

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.