Royce & Associates LP Makes New Investment in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Royce & Associates LP bought a new position in Blade Air Mobility, Inc. (NASDAQ:BLDE) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 492,000 shares of the company’s stock, valued at approximately $2,091,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in Blade Air Mobility during the third quarter valued at $52,000. Charles Schwab Investment Management Inc. grew its stake in shares of Blade Air Mobility by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 170,117 shares of the company’s stock valued at $500,000 after buying an additional 10,272 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Blade Air Mobility by 610.0% in the third quarter. Cerity Partners LLC now owns 303,439 shares of the company’s stock worth $892,000 after buying an additional 260,699 shares during the period. Cobblestone Capital Advisors LLC NY bought a new stake in shares of Blade Air Mobility during the third quarter worth $35,000. Finally, Maven Securities LTD purchased a new position in Blade Air Mobility in the 3rd quarter worth about $206,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

Blade Air Mobility Trading Down 0.3 %

BLDE opened at $3.01 on Friday. The business’s fifty day simple moving average is $3.59 and its 200-day simple moving average is $3.66. The company has a market capitalization of $235.73 million, a price-to-earnings ratio of -4.36 and a beta of 1.22. Blade Air Mobility, Inc. has a 12-month low of $2.60 and a 12-month high of $5.17.

Wall Street Analyst Weigh In

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 target price on the stock.

Insiders Place Their Bets

In other news, CFO William A. Heyburn sold 103,670 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.02, for a total value of $520,423.40. Following the completion of the sale, the chief financial officer now owns 1,223,120 shares of the company’s stock, valued at approximately $6,140,062.40. This represents a 7.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.50% of the stock is owned by company insiders.

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.