Short Interest in Blade Air Mobility, Inc. (NASDAQ:BLDE) Declines By 11.6%

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

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. The stock has a 50 day moving average of $4.07 and a 200-day moving average of $3.57. The firm has a market capitalization of $321.87 million, a PE ratio of -5.96 and a beta of 1.14. Blade Air Mobility has a fifty-two week low of $2.45 and a fifty-two week high of $5.17.

Insider Activity

In other Blade Air Mobility news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the 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 transaction, the chief executive officer now directly owns 4,812,892 shares in the company, valued at $15,497,512.24. This represents a 30.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William A. Heyburn sold 23,815 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $5.02, for a total transaction of $119,551.30. Following the completion of the sale, the chief financial officer now owns 1,376,111 shares in the company, valued at $6,908,077.22. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,445,254 shares of company stock worth $8,365,549. 17.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blade Air Mobility

A number of large investors have recently modified their holdings of BLDE. Bank of New York Mellon Corp raised its position in Blade Air Mobility by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 187,940 shares of the company’s stock worth $654,000 after purchasing an additional 26,326 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Blade Air Mobility by 20.9% in the 2nd quarter. American Century Companies Inc. now owns 83,250 shares of the company’s stock valued at $290,000 after buying an additional 14,372 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Blade Air Mobility by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock worth $3,264,000 after acquiring an additional 181,630 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Blade Air Mobility by 19.0% during the second quarter. Renaissance Technologies LLC now owns 291,300 shares of the company’s stock valued at $1,014,000 after acquiring an additional 46,600 shares during the period. Finally, Sei Investments Co. bought a new position in Blade Air Mobility in the second quarter valued at about $38,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Blade Air Mobility

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.