Blade Air Mobility, Inc. (NASDAQ:BLDE) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 148.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 566,405 shares of the company's stock after buying an additional 338,103 shares during the period. Russell Investments Group Ltd. owned 0.72% of Blade Air Mobility worth $2,407,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. ARK Investment Management LLC boosted its position in shares of 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 valued at $34,217,000 after acquiring an additional 833,848 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Blade Air Mobility in the 4th quarter valued at approximately $2,278,000. Royce & Associates LP acquired a new stake in shares of Blade Air Mobility during the 4th quarter worth approximately $2,091,000. DnB Asset Management AS acquired a new position in Blade Air Mobility in the fourth quarter valued at approximately $966,000. Finally, Raymond James Financial Inc. purchased a new position in Blade Air Mobility in the fourth quarter worth approximately $833,000. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

Blade Air Mobility Stock Up 4.1 %

BLDE stock traded up $0.11 during mid-day trading on Thursday, hitting $2.70. 205,577 shares of the company were exchanged, compared to its average volume of 702,251. The business has a fifty day simple moving average of $3.00 and a 200-day simple moving average of $3.59. The firm has a market capitalization of $214.78 million, a P/E ratio of -3.91 and a beta of 1.41. Blade Air Mobility, Inc. has a 12-month low of $2.35 and a 12-month high of $5.17.

Analyst Ratings Changes

Separately, Lake Street Capital started coverage on Blade Air Mobility in a research note on Wednesday, February 26th. They issued a "buy" rating and a $6.50 price target on the stock.

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.