Blade Air Mobility (NASDAQ:BLDE) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of Blade Air Mobility (NASDAQ:BLDE - Free Report) in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $6.50 target price on the stock.

Separately, JPMorgan Chase & Co. increased their target price on 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 Performance

Shares of NASDAQ:BLDE remained flat at $3.38 during trading on Wednesday. The company had a trading volume of 544,350 shares, compared to its average volume of 719,786. Blade Air Mobility has a 12-month low of $2.45 and a 12-month high of $5.17. The firm has a 50-day moving average of $3.95 and a 200-day moving average of $3.66. The firm has a market capitalization of $264.70 million, a P/E ratio of -4.90 and a beta of 1.14.

Insider Buying and Selling at Blade Air Mobility

In other Blade Air Mobility news, General Counsel Melissa M. Tomkiel sold 22,486 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.01, for a total transaction of $112,654.86. Following the completion of the transaction, the general counsel now owns 1,039,140 shares in the company, valued at $5,206,091.40. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO William A. Heyburn sold 103,670 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.02, for a total value of $520,423.40. Following the transaction, the chief financial officer now owns 1,223,120 shares of the company's stock, valued at $6,140,062.40. This represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,441 shares of company stock worth $830,289 in the last quarter. 18.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blade Air Mobility

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of Blade Air Mobility in the 4th quarter worth approximately $34,000. Cobblestone Capital Advisors LLC NY purchased a new position in shares of Blade Air Mobility in the 3rd quarter worth approximately $35,000. Intech Investment Management LLC purchased a new position in shares of Blade Air Mobility in the 3rd quarter worth approximately $52,000. Virtu Financial LLC purchased a new position in shares of Blade Air Mobility in the 4th quarter worth approximately $53,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Blade Air Mobility by 66,255.0% in the 4th quarter. Sunbelt Securities Inc. now owns 13,271 shares of the company's stock worth $58,000 after purchasing an additional 13,251 shares during the period. Hedge funds and other institutional investors own 47.36% of the company's 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.