Manatuck Hill Partners LLC Takes $2.55 Million Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Manatuck Hill Partners LLC purchased a new position in Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 600,000 shares of the company's stock, valued at approximately $2,550,000. Blade Air Mobility makes up approximately 1.0% of Manatuck Hill Partners LLC's portfolio, making the stock its 29th biggest position. Manatuck Hill Partners LLC owned 0.77% of Blade Air Mobility at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Northern Trust Corp grew its holdings in shares of Blade Air Mobility by 0.7% during the fourth quarter. Northern Trust Corp now owns 475,169 shares of the company's stock valued at $2,019,000 after buying an additional 3,532 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 purchasing an additional 4,118 shares during the period. SG Americas Securities LLC raised its stake in shares of Blade Air Mobility by 30.0% in the fourth 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 lifted its holdings in shares of Blade Air Mobility by 5.3% during the fourth 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 period. Finally, Wells Fargo & Company MN boosted its position in Blade Air Mobility by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 34,058 shares of the company's stock valued at $145,000 after buying an additional 7,418 shares during the last quarter. Hedge funds and other institutional investors own 47.36% of the company's stock.

Wall Street Analysts Forecast Growth

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

Blade Air Mobility Stock Up 3.1 %

Shares of BLDE stock traded up $0.09 during mid-day trading on Wednesday, hitting $2.85. 166,527 shares of the stock were exchanged, compared to its average volume of 678,001. Blade Air Mobility, Inc. has a 52-week low of $2.35 and a 52-week high of $5.17. The firm has a fifty day moving average of $2.84 and a 200 day moving average of $3.55. The company has a market cap of $226.73 million, a PE ratio of -4.12 and a beta of 1.54.

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.