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

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Blade Air Mobility during the 4th quarter valued at $53,000. SG Americas Securities LLC grew its holdings in 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 acquiring an additional 5,297 shares in the last quarter. Intech Investment Management LLC raised its stake in Blade Air Mobility by 55.4% in the fourth quarter. Intech Investment Management LLC now owns 27,742 shares of the company's stock worth $118,000 after buying an additional 9,887 shares in the last quarter. Wells Fargo & Company MN lifted its stake 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. Finally, Jane Street Group LLC raised its holdings in Blade Air Mobility by 32.7% in the fourth quarter. Jane Street Group LLC now owns 39,916 shares of the company's stock worth $170,000 after purchasing an additional 9,837 shares in the last quarter. 47.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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 target price on the stock.

Blade Air Mobility Trading Down 3.2 %

Shares of BLDE stock traded down $0.09 during mid-day trading on Tuesday, reaching $2.76. The stock had a trading volume of 512,955 shares, compared to its average volume of 679,240. The business's fifty day moving average is $2.85 and its 200-day moving average is $3.55. The firm has a market cap of $219.96 million, a price-to-earnings ratio of -4.00 and a beta of 1.54. Blade Air Mobility, Inc. has a 1-year low of $2.35 and a 1-year high of $5.17.

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.