Short Interest in Blade Air Mobility, Inc. (NASDAQ:BLDE) Decreases By 20.7%

Blade Air Mobility, Inc. (NASDAQ:BLDE - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,110,000 shares, a decrease of 20.7% from the March 15th total of 2,660,000 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average trading volume of 713,300 shares, the short-interest ratio is presently 3.0 days.

Blade Air Mobility Stock Performance

NASDAQ BLDE remained flat at $2.59 during trading hours on Wednesday. 745,848 shares of the company traded hands, compared to its average volume of 679,735. The company has a market cap of $206.41 million, a P/E ratio of -3.75 and a beta of 1.41. Blade Air Mobility has a 52-week low of $2.35 and a 52-week high of $5.17. The stock has a 50-day moving average of $3.00 and a 200-day moving average of $3.59.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Blade Air Mobility

A number of large investors have recently modified their holdings of BLDE. Stifel Financial Corp grew its holdings in Blade Air Mobility by 18.9% during the third quarter. Stifel Financial Corp now owns 35,755 shares of the company's stock worth $105,000 after acquiring an additional 5,683 shares during the period. Geode Capital Management LLC grew its stake in shares of Blade Air Mobility by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,375,295 shares of the company's stock worth $4,044,000 after purchasing an additional 52,274 shares during the period. Rhumbline Advisers increased its holdings in shares of Blade Air Mobility by 5.3% in the 4th quarter. Rhumbline Advisers now owns 140,779 shares of the company's stock valued at $598,000 after purchasing an additional 7,037 shares in the last quarter. SG Americas Securities LLC lifted its stake 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 valued at $98,000 after purchasing an additional 5,297 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Blade Air Mobility by 15.4% in the third quarter. Tidal Investments LLC now owns 655,616 shares of the company's stock valued at $1,928,000 after purchasing an additional 87,496 shares during the period. 47.36% of the stock is owned by hedge funds and other institutional investors.

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.