Blade Air Mobility, Inc. (NASDAQ:BLDE) Sees Significant Drop in Short Interest

Blade Air Mobility, Inc. (NASDAQ:BLDE - Get Free Report) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 3,130,000 shares, a decrease of 7.9% from the November 15th total of 3,400,000 shares. Approximately 5.6% of the company's shares are short sold. Based on an average daily volume of 806,600 shares, the short-interest ratio is currently 3.9 days.

Insider Buying and Selling at Blade Air Mobility

In other news, CFO William A. Heyburn sold 39,285 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.02, for a total transaction of $197,210.70. Following the completion of the sale, the chief financial officer now owns 1,336,826 shares in the company, valued at approximately $6,710,866.52. The trade was a 2.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Melissa M. Tomkiel sold 22,135 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $5.02, for a total transaction of $111,117.70. Following the completion of the sale, the general counsel now directly owns 1,061,626 shares of the company's stock, valued at $5,329,362.52. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,341,584 shares of company stock worth $7,845,126. Corporate insiders own 17.50% of the company's stock.

Institutional Investors Weigh In On Blade Air Mobility

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in Blade Air Mobility by 18.9% during the 3rd quarter. Stifel Financial Corp now owns 35,755 shares of the company's stock worth $105,000 after purchasing an additional 5,683 shares during the last quarter. CWM LLC increased its stake in shares of Blade Air Mobility by 764.5% in the second quarter. CWM LLC now owns 7,374 shares of the company's stock worth $26,000 after buying an additional 6,521 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Blade Air Mobility by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 170,117 shares of the company's stock worth $500,000 after buying an additional 10,272 shares during the last quarter. Sei Investments Co. acquired a new stake in Blade Air Mobility in the second quarter valued at $38,000. Finally, EverSource Wealth Advisors LLC bought a new position in Blade Air Mobility during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 47.36% of the company's stock.

Blade Air Mobility Trading Up 2.0 %

NASDAQ:BLDE traded up $0.08 during trading hours on Monday, hitting $4.12. The stock had a trading volume of 931,313 shares, compared to its average volume of 719,155. The business has a 50 day simple moving average of $3.79 and a two-hundred day simple moving average of $3.39. Blade Air Mobility has a 1-year low of $2.45 and a 1-year high of $5.17. The company has a market cap of $322.65 million, a PE ratio of -5.86 and a beta of 1.13.

Wall Street Analyst Weigh In

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

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.