Blade Air Mobility, Inc. (NASDAQ:BLDE) General Counsel Sells $408,000.00 in Stock

Blade Air Mobility, Inc. (NASDAQ:BLDE - Get Free Report) General Counsel Melissa M. Tomkiel sold 100,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $4.08, for a total value 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 approximately $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 Securities & Exchange Commission, which is available at the SEC website.

Blade Air Mobility Price Performance

NASDAQ BLDE traded down $0.10 on Friday, reaching $3.89. The stock had a trading volume of 765,527 shares, compared to its average volume of 714,430. The company has a market cap of $315.16 million, a P/E ratio of -5.64 and a beta of 1.65. Blade Air Mobility, Inc. has a 1-year low of $2.35 and a 1-year high of $5.17. The firm has a fifty day moving average of $3.17 and a two-hundred day moving average of $3.53.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BLDE. SG Americas Securities LLC increased its position in shares of Blade Air Mobility by 30.0% in the fourth quarter. SG Americas Securities LLC now owns 22,970 shares of the company's stock worth $98,000 after purchasing an additional 5,297 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Blade Air Mobility by 114.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 78,080 shares of the company's stock worth $332,000 after purchasing an additional 41,720 shares during the period. Rhumbline Advisers increased its position in shares of Blade Air Mobility by 5.3% in the fourth quarter. Rhumbline Advisers now owns 140,779 shares of the company's stock worth $598,000 after purchasing an additional 7,037 shares during the period. Bank of New York Mellon Corp increased its position in shares of Blade Air Mobility by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 138,561 shares of the company's stock worth $589,000 after purchasing an additional 4,118 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of Blade Air Mobility by 11.6% in the fourth quarter. ARK Investment Management LLC now owns 8,051,099 shares of the company's stock worth $34,217,000 after purchasing an additional 833,848 shares during the period. Institutional investors own 47.36% of the company's stock.

Analyst Ratings Changes

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

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.