Connective Capital Management LLC Invests $434,000 in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Connective Capital Management LLC purchased a new stake in Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,147 shares of the company's stock, valued at approximately $434,000. Connective Capital Management LLC owned approximately 0.13% of Blade Air Mobility at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BLDE. SG Americas Securities LLC boosted its holdings in 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 in the last quarter. Stratos Wealth Partners LTD. raised its stake in Blade Air Mobility by 114.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 78,080 shares of the company's stock worth $332,000 after acquiring an additional 41,720 shares in the last quarter. Rhumbline Advisers lifted its position in Blade Air Mobility by 5.3% in the fourth quarter. Rhumbline Advisers now owns 140,779 shares of the company's stock valued at $598,000 after acquiring an additional 7,037 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 valued at $589,000 after acquiring an additional 4,118 shares in the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Blade Air Mobility by 11.6% during 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 last quarter. 47.36% of the stock is owned by hedge funds and other institutional investors.

Blade Air Mobility Stock Performance

Blade Air Mobility stock traded up $0.02 during midday trading on Friday, hitting $3.38. 396,748 shares of the company's stock were exchanged, compared to its average volume of 687,039. The firm's 50 day simple moving average is $2.90 and its 200 day simple moving average is $3.51. Blade Air Mobility, Inc. has a 12-month low of $2.35 and a 12-month high of $5.17. The stock has a market cap of $273.84 million, a price-to-earnings ratio of -4.90 and a beta of 1.54.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.07. The firm had revenue of $54.31 million during the quarter, compared to the consensus estimate 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 forecast that Blade Air Mobility, Inc. will post -0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.