Insider Selling: Blade Air Mobility, Inc. (NASDAQ:BLDE) CFO Sells 100,000 Shares of Stock

Blade Air Mobility, Inc. (NASDAQ:BLDE - Get Free Report) CFO William A. Heyburn sold 100,000 shares of the firm'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 now directly owns 1,360,002 shares in the company, valued at $5,535,208.14. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Blade Air Mobility Trading Down 2.4%

Shares of BLDE stock traded down $0.10 on Thursday, hitting $4.03. 521,157 shares of the stock were exchanged, compared to its average volume of 709,249. Blade Air Mobility, Inc. has a one year low of $2.35 and a one year high of $5.17. The firm's 50 day moving average is $3.11 and its two-hundred day moving average is $3.54. The firm has a market capitalization of $326.50 million, a PE ratio of -5.84 and a beta of 1.65.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07. The firm had revenue of $54.31 million for 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, sell-side analysts expect that Blade Air Mobility, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Blade Air Mobility

A number of hedge funds and other institutional investors have recently bought and sold shares of BLDE. Northern Trust Corp increased its stake in Blade Air Mobility by 0.7% in the 4th quarter. Northern Trust Corp now owns 475,169 shares of the company's stock worth $2,019,000 after acquiring an additional 3,532 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 valued at $589,000 after purchasing an additional 4,118 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Blade Air Mobility by 9.0% in the first quarter. SBI Securities Co. Ltd. now owns 51,604 shares of the company's stock worth $141,000 after buying an additional 4,256 shares during the period. SG Americas Securities LLC lifted its position 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 during the last quarter. Finally, ProShare Advisors LLC boosted its position in Blade Air Mobility by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,341 shares of the company's stock valued at $69,000 after buying an additional 5,377 shares during the period. Institutional investors own 47.36% of the company's stock.

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.