Blade Air Mobility, Inc. (NASDAQ:BLDE) Short Interest Down 7.9% in November

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 3,130,000 shares, a drop of 7.9% from the November 15th total of 3,400,000 shares. Based on an average daily volume of 806,600 shares, the short-interest ratio is presently 3.9 days. Currently, 5.6% of the shares of the stock are sold short.

Insider Activity at Blade Air Mobility

In related news, General Counsel Melissa M. Tomkiel sold 44,621 shares of Blade Air Mobility stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $3.40, for a total value of $151,711.40. Following the completion of the sale, the general counsel now directly owns 1,173,003 shares in the company, valued at $3,988,210.20. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert S. Wiesenthal sold 2,100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 4,812,892 shares of the company’s stock, valued at $15,497,512.24. This represents a 30.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,341,584 shares of company stock valued at $7,845,126 over the last quarter. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Blade Air Mobility

Several hedge funds have recently bought and sold shares of BLDE. CWM LLC raised its stake 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 valued at $26,000 after purchasing an additional 6,521 shares during the period. Cobblestone Capital Advisors LLC NY acquired a new stake in Blade Air Mobility in the 3rd quarter valued at approximately $35,000. Sei Investments Co. bought a new stake in Blade Air Mobility in the 2nd quarter valued at approximately $38,000. EverSource Wealth Advisors LLC bought a new stake in Blade Air Mobility in the 2nd quarter valued at approximately $40,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Blade Air Mobility during the 2nd quarter worth approximately $50,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price target 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 Down 3.1 %

BLDE opened at $4.04 on Monday. The stock has a market cap of $316.39 million, a P/E ratio of -5.86 and a beta of 1.13. Blade Air Mobility has a 12 month low of $2.45 and a 12 month high of $5.17. The company has a fifty day simple moving average of $3.79 and a 200 day simple moving average of $3.39.

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.