ARK Investment Management LLC grew its position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 12.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,217,251 shares of the company's stock after acquiring an additional 774,114 shares during the quarter. ARK Investment Management LLC owned about 9.26% of Blade Air Mobility worth $21,219,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. CWM LLC grew its stake in shares of Blade Air Mobility by 764.5% during the second quarter. CWM LLC now owns 7,374 shares of the company's stock worth $26,000 after acquiring an additional 6,521 shares during the last quarter. Sei Investments Co. acquired a new position in Blade Air Mobility during the 2nd quarter worth about $38,000. EverSource Wealth Advisors LLC acquired a new stake in Blade Air Mobility in the 2nd quarter valued at about $40,000. 1620 Investment Advisors Inc. purchased a new position in shares of Blade Air Mobility in the 2nd quarter valued at about $50,000. Finally, SG Americas Securities LLC purchased a new position in Blade Air Mobility during the 3rd quarter worth approximately $52,000. 47.36% of the stock is currently owned by institutional investors.
Blade Air Mobility Price Performance
Shares of NASDAQ:BLDE remained flat at $3.73 during trading on Friday. The stock had a trading volume of 747,167 shares, compared to its average volume of 638,145. The company has a market capitalization of $290.69 million, a PE ratio of -5.65 and a beta of 1.05. The stock has a 50 day simple moving average of $3.33 and a two-hundred day simple moving average of $3.28. Blade Air Mobility, Inc. has a 52 week low of $2.45 and a 52 week high of $4.24.
Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). Blade Air Mobility had a negative return on equity of 10.86% and a negative net margin of 20.64%. The business had revenue of $67.95 million during the quarter, compared to analysts' expectations of $62.86 million. Equities research analysts predict that Blade Air Mobility, Inc. will post -0.36 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. lifted their price objective on Blade Air Mobility from $5.00 to $6.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th.
Check Out Our Latest Stock Report on BLDE
About Blade Air Mobility
(
Free Report)
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.
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