Blade Air Mobility (NASDAQ:BLDE) Trading 0.6% Higher - Should You Buy?

Blade Air Mobility, Inc. (NASDAQ:BLDE - Get Free Report) shares shot up 0.6% during mid-day trading on Wednesday . The stock traded as high as $3.60 and last traded at $3.58. 848,691 shares traded hands during trading, an increase of 11% from the average session volume of 767,574 shares. The stock had previously closed at $3.56.

Wall Street Analyst Weigh In

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

Blade Air Mobility Stock Up 4.7 %

The business's 50-day moving average price is $4.07 and its 200-day moving average price is $3.62.

Insiders Place Their Bets

In other news, General Counsel Melissa M. Tomkiel sold 22,135 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $5.02, for a total value of $111,117.70. Following the completion of the sale, the general counsel now owns 1,061,626 shares of the company's stock, valued at approximately $5,329,362.52. This represents a 2.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William A. Heyburn sold 39,285 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.02, for a total value 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. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 300,633 shares of company stock valued at $1,451,838. 17.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blade Air Mobility

Several hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC lifted 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 buying an additional 833,848 shares during the last quarter. Manatuck Hill Partners LLC bought a new stake in shares of Blade Air Mobility during the 4th quarter valued at $2,550,000. First Eagle Investment Management LLC bought a new stake in shares of Blade Air Mobility during the 4th quarter valued at $2,278,000. Royce & Associates LP bought a new position in Blade Air Mobility in the 4th quarter worth about $2,091,000. Finally, Marshall Wace LLP increased its stake in Blade Air Mobility by 372.0% in the 4th quarter. Marshall Wace LLP now owns 452,445 shares of the company's stock worth $1,923,000 after acquiring an additional 356,596 shares during the last quarter. Institutional investors own 47.36% of the company's stock.

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.