Blade Air Mobility, Inc. (NASDAQ:BLDE) CEO Sells $6,762,000.00 in Stock

Blade Air Mobility, Inc. (NASDAQ:BLDE - Get Free Report) CEO Robert S. Wiesenthal sold 2,100,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 4,812,892 shares in the company, valued at $15,497,512.24. This represents a 30.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Blade Air Mobility Stock Down 7.6 %

Shares of NASDAQ:BLDE traded down $0.26 during trading on Friday, reaching $3.16. The stock had a trading volume of 951,023 shares, compared to its average volume of 650,443. The stock has a fifty day simple moving average of $3.40 and a two-hundred day simple moving average of $3.30. The firm has a market capitalization of $246.27 million, a price-to-earnings ratio of -4.58 and a beta of 1.05. Blade Air Mobility, Inc. has a 52 week low of $2.45 and a 52 week high of $4.24.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Blade Air Mobility

Hedge funds have recently modified their holdings of the business. CWM LLC grew its holdings in shares of Blade Air Mobility by 764.5% in the 2nd quarter. CWM LLC now owns 7,374 shares of the company's stock worth $26,000 after purchasing an additional 6,521 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Blade Air Mobility during the second quarter valued at $38,000. EverSource Wealth Advisors LLC acquired a new position in shares of Blade Air Mobility during the second quarter valued at $40,000. Cobblestone Capital Advisors LLC NY acquired a new stake in Blade Air Mobility in the third quarter worth about $35,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Blade Air Mobility in the second quarter worth about $50,000. 47.36% of the stock is owned by institutional investors.

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.