Blade Air Mobility, Inc. (NASDAQ:BLDE) Short Interest Down 11.6% in December

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the recipient of a significant drop in short interest during the month of 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. Approximately 4.8% of the company’s shares are short sold. Based on an average trading volume of 962,300 shares, the days-to-cover ratio is currently 2.8 days.

Insider Buying and Selling at Blade Air Mobility

In other news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was 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 directly 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 legal filing with the SEC, which is available through this hyperlink. Also, CFO William A. Heyburn sold 103,670 shares of Blade Air Mobility stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.02, for a total transaction of $520,423.40. Following the transaction, the chief financial officer now directly owns 1,223,120 shares in the company, valued at $6,140,062.40. The trade was a 7.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,445,254 shares of company stock valued at $8,365,549. 17.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blade Air Mobility

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of 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 period. Tidal Investments LLC grew its holdings 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 in the last quarter. Barclays PLC raised its position in Blade Air Mobility by 50.9% in the 3rd quarter. Barclays PLC now owns 166,154 shares of the company’s stock valued at $488,000 after buying an additional 56,079 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 52,274 shares in the last quarter. Finally, XTX Topco Ltd boosted its position 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 during the last quarter. 47.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Blade Air Mobility Price Performance

Shares of Blade Air Mobility stock remained flat at $4.11 on Friday. 587,389 shares of the stock traded hands, compared to its average volume of 867,741. The company has a market capitalization of $321.87 million, a price-to-earnings ratio of -5.96 and a beta of 1.14. Blade Air Mobility has a 12 month low of $2.45 and a 12 month high of $5.17. The company has a fifty day simple moving average of $4.07 and a 200-day simple moving average of $3.57.

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.