Blade Air Mobility, Inc. (NASDAQ:BLDE) General Counsel Melissa M. Tomkiel Sells 100,000 Shares

Blade Air Mobility, Inc. (NASDAQ:BLDE - Get Free Report) General Counsel Melissa M. Tomkiel sold 100,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.08, for a total transaction of $408,000.00. Following the completion of the transaction, the general counsel now directly owns 1,151,204 shares in the company, valued at $4,696,912.32. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Blade Air Mobility Stock Performance

Shares of NASDAQ:BLDE traded down $0.18 during midday trading on Friday, hitting $3.81. The company's stock had a trading volume of 140,444 shares, compared to its average volume of 709,090. The company has a market cap of $308.35 million, a P/E ratio of -5.53 and a beta of 1.65. Blade Air Mobility, Inc. has a 12-month low of $2.35 and a 12-month high of $5.17. The business's 50 day simple moving average is $3.14 and its 200 day simple moving average is $3.54.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.07. The business had revenue of $54.31 million for the quarter, compared to analyst estimates of $49.30 million. Blade Air Mobility had a negative net margin of 21.28% and a negative return on equity of 12.16%. On average, sell-side analysts predict that Blade Air Mobility, Inc. will post -0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blade Air Mobility

A number of institutional investors have recently added to or reduced their stakes in BLDE. BNP Paribas Financial Markets purchased a new stake in Blade Air Mobility in the 4th quarter valued at $34,000. Walleye Capital LLC acquired a new position in shares of Blade Air Mobility during the 1st quarter valued at about $36,000. Virtu Financial LLC acquired a new position in shares of Blade Air Mobility during the 4th quarter valued at about $53,000. Chapin Davis Inc. purchased a new stake in shares of Blade Air Mobility in the first quarter valued at about $55,000. Finally, Sunbelt Securities Inc. increased its position in Blade Air Mobility by 66,255.0% during the fourth quarter. Sunbelt Securities Inc. now owns 13,271 shares of the company's stock worth $58,000 after purchasing an additional 13,251 shares during the last quarter. Hedge funds and other institutional investors own 47.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital started coverage on Blade Air Mobility in a research note on Wednesday, February 26th. They issued a "buy" rating and a $6.50 price objective for the company.

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.