Raymond James Financial Inc. Invests $833,000 in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Raymond James Financial Inc. purchased a new position in Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 195,976 shares of the company's stock, valued at approximately $833,000. Raymond James Financial Inc. owned 0.25% of Blade Air Mobility at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Blade Air Mobility in the 4th quarter worth approximately $53,000. SG Americas Securities LLC grew its holdings in shares of Blade Air Mobility by 30.0% in 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 during the period. Intech Investment Management LLC grew its holdings in shares of Blade Air Mobility by 55.4% in the 4th quarter. Intech Investment Management LLC now owns 27,742 shares of the company's stock worth $118,000 after acquiring an additional 9,887 shares during the period. Wells Fargo & Company MN grew its holdings in Blade Air Mobility by 27.8% during the 4th 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. Finally, SBI Securities Co. Ltd. acquired a new stake in Blade Air Mobility during the 4th quarter valued at $201,000. Institutional investors and hedge funds own 47.36% of the company's stock.

Blade Air Mobility Price Performance

NASDAQ:BLDE traded up $0.49 on Monday, reaching $3.41. The stock had a trading volume of 658,894 shares, compared to its average volume of 678,875. The company has a market cap of $271.68 million, a price-to-earnings ratio of -4.99 and a beta of 1.54. The firm's fifty day moving average is $2.82 and its two-hundred day moving average is $3.53. Blade Air Mobility, Inc. has a 12-month low of $2.35 and a 12-month high of $5.17.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last posted its quarterly earnings data 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. Blade Air Mobility had a negative return on equity of 12.16% and a negative net margin of 21.28%. As a group, research analysts forecast that Blade Air Mobility, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.