Blade Air Mobility, Inc. (NASDAQ:BLDE) Sees Large Drop in Short Interest

Blade Air Mobility, Inc. (NASDAQ:BLDE) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 2,670,000 shares, a decline of 11.6% from the December 15th total of 3,020,000 shares. Based on an average trading volume of 962,300 shares, the days-to-cover ratio is currently 2.8 days. Approximately 4.8% of the company’s shares are short sold.

Analysts Set New Price Targets

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

Blade Air Mobility Price Performance

Shares of Blade Air Mobility stock remained flat at $4.11 during trading on Friday. The company had a trading volume of 587,389 shares, compared to its average volume of 867,741. Blade Air Mobility has a twelve month low of $2.45 and a twelve month high of $5.17. The business’s fifty day simple moving average is $4.07 and its 200-day simple moving average is $3.57.

Insider Transactions at Blade Air Mobility

In related news, CEO Robert S. Wiesenthal sold 2,100,000 shares of Blade Air Mobility stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $3.22, for a total transaction of $6,762,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,812,892 shares of the company’s stock, valued at $15,497,512.24. The trade was a 30.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William A. Heyburn sold 103,670 shares of Blade Air Mobility stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.02, for a total value of $520,423.40. Following the sale, the chief financial officer now directly owns 1,223,120 shares of the company’s stock, valued at approximately $6,140,062.40. This trade represents a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,445,254 shares of company stock worth $8,365,549 over the last 90 days. 18.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. acquired a new position in Blade Air Mobility in the second quarter valued at about $38,000. EverSource Wealth Advisors LLC acquired a new position in Blade Air Mobility in the second quarter valued at about $40,000. Cobblestone Capital Advisors LLC NY acquired a new position in Blade Air Mobility in the third quarter valued at about $35,000. SG Americas Securities LLC acquired a new position in Blade Air Mobility in the third quarter valued at about $52,000. Finally, Intech Investment Management LLC acquired a new position in Blade Air Mobility in the third quarter valued at about $52,000. 47.36% of the stock is 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.