Connective Capital Management LLC Makes New Investment in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Connective Capital Management LLC acquired a new position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 102,147 shares of the company's stock, valued at approximately $434,000. Connective Capital Management LLC owned 0.13% of Blade Air Mobility as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BLDE. ARK Investment Management LLC grew its position in shares of Blade Air Mobility by 11.6% during the 4th quarter. ARK Investment Management LLC now owns 8,051,099 shares of the company's stock worth $34,217,000 after buying an additional 833,848 shares during the period. Manatuck Hill Partners LLC acquired a new position in Blade Air Mobility during the fourth quarter valued at approximately $2,550,000. First Eagle Investment Management LLC bought a new stake in Blade Air Mobility in the fourth quarter valued at approximately $2,278,000. Royce & Associates LP acquired a new stake in Blade Air Mobility in the fourth quarter worth $2,091,000. Finally, Marshall Wace LLP boosted its position in shares of Blade Air Mobility by 372.0% during the fourth quarter. Marshall Wace LLP now owns 452,445 shares of the company's stock worth $1,923,000 after purchasing an additional 356,596 shares in the last quarter. 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 set a "buy" rating and a $6.50 price objective on the stock.

Blade Air Mobility Stock Performance

BLDE stock traded up $0.02 during mid-day trading on Monday, hitting $3.38. 396,748 shares of the company were exchanged, compared to its average volume of 688,314. Blade Air Mobility, Inc. has a 1-year low of $2.35 and a 1-year high of $5.17. The firm's 50 day simple moving average is $2.90 and its 200 day simple moving average is $3.51. The firm has a market cap of $273.84 million, a P/E ratio of -4.90 and a beta of 1.54.

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, beating analysts' consensus estimates of ($0.11) by $0.07. The company had revenue of $54.31 million for the quarter, compared to analyst estimates of $49.30 million. Blade Air Mobility had a negative return on equity of 12.16% and a negative net margin of 21.28%. On average, equities research analysts predict that Blade Air Mobility, Inc. will post -0.35 EPS for the current fiscal year.

Blade Air Mobility 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.