Nuveen Asset Management LLC Increases Stock Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Nuveen Asset Management LLC grew its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 46.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,081,180 shares of the company's stock after acquiring an additional 342,250 shares during the period. Nuveen Asset Management LLC owned about 1.38% of Blade Air Mobility worth $4,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Blade Air Mobility by 0.7% during the 4th quarter. Northern Trust Corp now owns 475,169 shares of the company's stock valued at $2,019,000 after acquiring an additional 3,532 shares during the period. Bank of New York Mellon Corp raised its position in shares of Blade Air Mobility by 3.1% during the 4th 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 last quarter. SG Americas Securities LLC raised its position in shares of Blade Air Mobility by 30.0% during the 4th 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 last quarter. Rhumbline Advisers raised its position in shares of Blade Air Mobility by 5.3% during the 4th 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 last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Blade Air Mobility by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 34,058 shares of the company's stock worth $145,000 after purchasing an additional 7,418 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Blade Air Mobility Price Performance

BLDE stock traded up $0.07 during midday trading on Wednesday, hitting $3.59. The stock had a trading volume of 487,864 shares, compared to its average volume of 691,547. The firm has a market cap of $290.85 million, a PE ratio of -5.20 and a beta of 1.54. Blade Air Mobility, Inc. has a 12-month low of $2.35 and a 12-month high of $5.17. The company's 50-day moving average price is $2.98 and its 200 day moving average price is $3.51.

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

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.