Blade Air Mobility (NASDAQ:BLDE) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Blade Air Mobility (NASDAQ:BLDE) in a research note published on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $6.50 price objective on the stock.

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

Blade Air Mobility Trading Up 3.4 %

Shares of Blade Air Mobility stock opened at $3.60 on Wednesday. Blade Air Mobility has a twelve month low of $2.45 and a twelve month high of $5.17. The firm has a market capitalization of $281.93 million, a PE ratio of -5.22 and a beta of 1.14. The firm’s 50-day moving average price is $3.97 and its 200 day moving average price is $3.66.

Insider Activity

In other Blade Air Mobility news, CFO William A. Heyburn sold 103,670 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.02, for a total transaction of $520,423.40. Following the sale, the chief financial officer now directly owns 1,223,120 shares in the company, valued at $6,140,062.40. This represents a 7.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Melissa M. Tomkiel sold 22,135 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.02, for a total transaction of $111,117.70. Following the completion of the transaction, the general counsel now directly owns 1,061,626 shares of the company’s stock, valued at $5,329,362.52. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,391 shares of company stock valued at $1,060,958. 18.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Blade Air Mobility

Several hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC grew its stake in Blade Air Mobility by 11.6% during the 4th quarter. ARK Investment Management LLC now owns 8,051,099 shares of the company’s stock worth $34,217,000 after purchasing an additional 833,848 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Blade Air Mobility by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,522,790 shares of the company’s stock valued at $6,472,000 after buying an additional 218,985 shares during the period. Geode Capital Management LLC grew its position in shares of Blade Air Mobility by 4.0% during the third quarter. Geode Capital Management LLC now owns 1,375,295 shares of the company’s stock worth $4,044,000 after buying an additional 52,274 shares in the last quarter. State Street Corp increased its stake in shares of Blade Air Mobility by 2.5% during the third 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, Nuveen Asset Management LLC raised its holdings in Blade Air Mobility by 46.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,081,180 shares of the company’s stock valued at $4,595,000 after acquiring an additional 342,250 shares in the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

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.