Royce & Associates LP Makes New Investment in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Royce & Associates LP bought a new stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 492,000 shares of the company's stock, valued at approximately $2,091,000. Royce & Associates LP owned approximately 0.63% of Blade Air Mobility at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BLDE. Cobblestone Capital Advisors LLC NY purchased a new stake in Blade Air Mobility during the third quarter valued at approximately $35,000. Intech Investment Management LLC bought a new position in shares of Blade Air Mobility during the 3rd quarter worth $52,000. SG Americas Securities LLC increased its stake in shares of Blade Air Mobility by 30.0% during the fourth quarter. SG Americas Securities LLC now owns 22,970 shares of the company's stock valued at $98,000 after buying an additional 5,297 shares during the period. Zacks Investment Management purchased a new stake in Blade Air Mobility in the third quarter worth about $89,000. Finally, Stifel Financial Corp grew 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 acquiring an additional 5,683 shares in the last quarter. Institutional investors own 47.36% of the company's stock.

Blade Air Mobility Stock Performance

Blade Air Mobility stock traded down $0.06 during mid-day trading on Tuesday, reaching $3.05. 351,308 shares of the company were exchanged, compared to its average volume of 708,254. Blade Air Mobility, Inc. has a 12-month low of $2.60 and a 12-month high of $5.17. The business has a fifty day moving average of $3.57 and a 200 day moving average of $3.67. The firm has a market cap of $238.86 million, a P/E ratio of -4.42 and a beta of 1.22.

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Insider Buying and Selling

In related news, CFO William A. Heyburn sold 103,670 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.02, for a total transaction of $520,423.40. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Lake Street Capital initiated coverage on shares of Blade Air Mobility in a research report on Wednesday, February 26th. They set a "buy" rating and a $6.50 target price on the stock.

Blade Air Mobility 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.