Blade Air Mobility (NASDAQ:BLDE) Issues Quarterly Earnings Results

Key Points

• Blade Air Mobility reported a quarterly EPS of ($0.05), missing the consensus estimate by $0.01, despite revenue of $70.80 million which exceeded expectations of $64.09 million.
• The company's stock fell by 6.1% to $4.16 during trading, with a market capitalization of $337.04 million.
• Insider activity included sales of 100,000 shares each by the CFO and General Counsel, reducing their ownership stakes by approximately 6.85% and 7.99% respectively.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01), Zacks reports. Blade Air Mobility had a negative return on equity of 8.80% and a negative net margin of 10.56%. The firm had revenue of $70.80 million for the quarter, compared to the consensus estimate of $64.09 million. Blade Air Mobility updated its FY 2025 guidance to EPS.

Blade Air Mobility Trading Down 6.1%

Blade Air Mobility stock traded down $0.27 during trading on Tuesday, hitting $4.16. 4,611,673 shares of the company were exchanged, compared to its average volume of 841,151. The business's 50 day moving average is $4.02 and its 200 day moving average is $3.49. Blade Air Mobility has a 52 week low of $2.35 and a 52 week high of $5.17. The company has a market capitalization of $337.04 million, a P/E ratio of -12.23 and a beta of 1.69.

Insider Activity

In related news, CFO William A. Heyburn sold 100,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.07, for a total transaction of $407,000.00. Following the transaction, the chief financial officer directly owned 1,360,002 shares in the company, valued at approximately $5,535,208.14. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Melissa M. Tomkiel sold 100,000 shares of Blade Air Mobility stock in a transaction on Monday, June 9th. The stock was sold at an average price of $4.08, for a total value of $408,000.00. Following the sale, the general counsel owned 1,151,204 shares in the company, valued at $4,696,912.32. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blade Air Mobility

A hedge fund recently raised its stake in Blade Air Mobility stock. Jane Street Group LLC raised its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 250.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,729 shares of the company's stock after buying an additional 99,813 shares during the quarter. Jane Street Group LLC owned about 0.18% of Blade Air Mobility worth $381,000 at the end of the most recent reporting period. 47.36% of the stock is owned by institutional investors.

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.

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