Blade Air Mobility, Inc. (NASDAQ:BLDE) Short Interest Update

Blade Air Mobility, Inc. (NASDAQ:BLDE) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,130,000 shares, a drop of 7.9% from the November 15th total of 3,400,000 shares. Approximately 5.6% of the shares of the stock are sold short. Based on an average daily volume of 806,600 shares, the short-interest ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on Blade Air Mobility from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th.

Insider Activity

In related news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $3.22, for a total value of $6,762,000.00. Following the completion of the transaction, the chief executive officer now owns 4,812,892 shares of the company’s stock, valued at $15,497,512.24. This represents a 30.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Melissa M. Tomkiel sold 44,621 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $3.40, for a total transaction of $151,711.40. Following the completion of the sale, the general counsel now owns 1,173,003 shares in the company, valued at $3,988,210.20. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,341,584 shares of company stock worth $7,845,126. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Blade Air Mobility

A number of institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its stake in shares of Blade Air Mobility by 12.0% during the third quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock valued at $21,219,000 after acquiring an additional 774,114 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Blade Air Mobility by 10.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock valued at $14,130,000 after purchasing an additional 381,308 shares during the period. Geode Capital Management LLC raised its position in Blade Air Mobility by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,375,295 shares of the company’s stock worth $4,044,000 after purchasing an additional 52,274 shares during the last quarter. State Street Corp lifted its holdings in Blade Air Mobility by 2.5% during the 3rd quarter. State Street Corp now owns 1,280,842 shares of the company’s stock worth $3,766,000 after buying an additional 31,313 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Blade Air Mobility by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock valued at $3,264,000 after buying an additional 181,630 shares during the last quarter. 47.36% of the stock is owned by institutional investors.

Blade Air Mobility Price Performance

Blade Air Mobility stock opened at $4.03 on Wednesday. The business has a 50 day moving average of $3.81 and a 200-day moving average of $3.41. The company has a market capitalization of $315.61 million, a P/E ratio of -5.84 and a beta of 1.13. Blade Air Mobility has a 1 year low of $2.45 and a 1 year high of $5.17.

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.