Blade Air Mobility, Inc. (NASDAQ:BLDE) Short Interest Down 11.6% in December

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,670,000 shares, a decrease of 11.6% from the December 15th total of 3,020,000 shares. Based on an average daily trading volume, of 962,300 shares, the days-to-cover ratio is presently 2.8 days. Currently, 4.8% of the company’s stock are sold short.

Insider Transactions at Blade Air Mobility

In related news, CFO William A. Heyburn sold 103,670 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.02, for a total value of $520,423.40. Following the completion of the transaction, the chief financial officer now owns 1,223,120 shares of the company’s stock, valued at $6,140,062.40. The trade was a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert S. Wiesenthal sold 2,100,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $3.22, for a total value of $6,762,000.00. Following the sale, the chief executive officer now directly owns 4,812,892 shares in the company, valued at $15,497,512.24. This trade represents a 30.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,445,254 shares of company stock valued at $8,365,549. 17.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its position in 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 purchasing an additional 5,297 shares in the last quarter. Tidal Investments LLC boosted its holdings in Blade Air Mobility by 15.4% during the third quarter. Tidal Investments LLC now owns 655,616 shares of the company’s stock worth $1,928,000 after buying an additional 87,496 shares in the last quarter. Barclays PLC grew its position in Blade Air Mobility by 50.9% during the third quarter. Barclays PLC now owns 166,154 shares of the company’s stock valued at $488,000 after buying an additional 56,079 shares during the period. Geode Capital Management LLC grew its position in Blade Air Mobility by 4.0% during the third quarter. Geode Capital Management LLC now owns 1,375,295 shares of the company’s stock valued at $4,044,000 after buying an additional 52,274 shares during the period. Finally, XTX Topco Ltd increased its holdings in Blade Air Mobility by 384.7% in the third quarter. XTX Topco Ltd now owns 73,763 shares of the company’s stock valued at $217,000 after buying an additional 58,545 shares in the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on Blade Air Mobility from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th.

Blade Air Mobility Stock Performance

NASDAQ:BLDE remained flat at $4.11 during midday trading on Friday. 587,389 shares of the company traded hands, compared to its average volume of 867,741. Blade Air Mobility has a one year low of $2.45 and a one year high of $5.17. The company has a market capitalization of $321.87 million, a price-to-earnings ratio of -5.96 and a beta of 1.14. The company’s fifty day simple moving average is $4.07 and its 200 day simple moving average is $3.57.

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.