JPMorgan Chase & Co. Boosts Blade Air Mobility (NASDAQ:BLDE) Price Target to $6.00

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $5.00 to $6.00 in a report released on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 57.48% from the stock's current price.

Blade Air Mobility Stock Up 0.5 %

Shares of Blade Air Mobility stock traded up $0.02 on Tuesday, reaching $3.81. The stock had a trading volume of 491,991 shares, compared to its average volume of 645,238. The company has a 50 day moving average price of $3.26 and a 200 day moving average price of $3.28. Blade Air Mobility has a 1 year low of $2.06 and a 1 year high of $4.24. The stock has a market capitalization of $296.91 million, a P/E ratio of -5.77 and a beta of 1.09.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $67.95 million during the quarter, compared to analysts' expectations of $62.86 million. Blade Air Mobility had a negative net margin of 20.64% and a negative return on equity of 10.86%. On average, analysts forecast that Blade Air Mobility will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of Blade Air Mobility

A number of institutional investors have recently bought and sold shares of the stock. AWM Investment Company Inc. lifted its stake in Blade Air Mobility by 53.8% during the 1st quarter. AWM Investment Company Inc. now owns 2,136,378 shares of the company's stock valued at $6,089,000 after acquiring an additional 747,743 shares during the period. Tidal Investments LLC acquired a new position in shares of Blade Air Mobility in the 1st quarter valued at $1,721,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Blade Air Mobility by 10.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company's stock valued at $14,130,000 after purchasing an additional 381,308 shares during the period. ARK Investment Management LLC lifted its stake in shares of Blade Air Mobility by 3.7% in the 2nd quarter. ARK Investment Management LLC now owns 6,443,137 shares of the company's stock valued at $22,422,000 after purchasing an additional 230,216 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Blade Air Mobility by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company's stock valued at $3,264,000 after purchasing an additional 181,630 shares during the period. 47.36% of the stock is currently owned by institutional investors and hedge funds.

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.