Blade Air Mobility, Inc. (NASDAQ:BLDE) Sees Large Decrease in Short Interest

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 2,670,000 shares, a drop of 11.6% from the December 15th total of 3,020,000 shares. Currently, 4.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 962,300 shares, the short-interest ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CFO William A. Heyburn sold 23,815 shares of Blade Air Mobility stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $5.02, for a total transaction of $119,551.30. Following the transaction, the chief financial officer now owns 1,376,111 shares in the company, valued at approximately $6,908,077.22. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert S. Wiesenthal sold 2,100,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 4,812,892 shares of the company’s stock, valued at approximately $15,497,512.24. The trade was a 30.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,445,254 shares of company stock worth $8,365,549 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Blade Air Mobility

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in Blade Air Mobility by 30.0% in the 4th quarter. SG Americas Securities LLC now owns 22,970 shares of the company’s stock valued at $98,000 after purchasing an additional 5,297 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Blade Air Mobility by 15.4% during the third quarter. Tidal Investments LLC now owns 655,616 shares of the company’s stock worth $1,928,000 after buying an additional 87,496 shares during the period. Barclays PLC grew its stake in shares of Blade Air Mobility by 50.9% in the third quarter. Barclays PLC now owns 166,154 shares of the company’s stock valued at $488,000 after buying an additional 56,079 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Blade Air Mobility by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,375,295 shares of the company’s stock valued at $4,044,000 after buying an additional 52,274 shares during the period. Finally, XTX Topco Ltd lifted its stake in Blade Air Mobility by 384.7% during the 3rd quarter. XTX Topco Ltd now owns 73,763 shares of the company’s stock worth $217,000 after acquiring an additional 58,545 shares in the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Blade Air Mobility Price Performance

BLDE stock remained flat at $4.11 during mid-day trading on Friday. 587,389 shares of the company’s stock traded hands, compared to its average volume of 867,741. Blade Air Mobility has a one year low of $2.45 and a one year high of $5.17. The stock has a market capitalization of $321.87 million, a price-to-earnings ratio of -5.96 and a beta of 1.14. The firm’s 50-day simple moving average is $4.07 and its two-hundred day simple moving average is $3.57.

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.