Blade Air Mobility, Inc. (NASDAQ:BLDE) Sees Large Decline in Short Interest

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,220,000 shares, a drop of 5.6% from the May 31st total of 4,470,000 shares. Based on an average daily trading volume, of 646,300 shares, the short-interest ratio is presently 6.5 days. Currently, 8.8% of the company’s shares are sold short.

Blade Air Mobility Price Performance

Shares of BLDE stock opened at $3.41 on Thursday. The stock has a 50-day moving average of $3.27 and a 200-day moving average of $3.23. Blade Air Mobility has a 1-year low of $2.06 and a 1-year high of $4.54.

Blade Air Mobility (NASDAQ:BLDE) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.07. The firm had revenue of $51.51 million during the quarter, compared to analyst estimates of $49.45 million. Blade Air Mobility had a negative net margin of 21.66% and a negative return on equity of 11.78%. Research analysts expect that Blade Air Mobility will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other Blade Air Mobility news, CAO Amir Cohen sold 11,008 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $3.05, for a total value of $33,574.40. Following the completion of the transaction, the chief accounting officer now directly owns 84,374 shares in the company, valued at approximately $257,340.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 18.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blade Air Mobility

A number of hedge funds have recently bought and sold shares of BLDE. B. Riley Wealth Advisors Inc. boosted its position in Blade Air Mobility by 70.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 21,850 shares of the company’s stock valued at $62,000 after acquiring an additional 9,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Blade Air Mobility during the 1st quarter valued at about $66,000. City State Bank acquired a new stake in Blade Air Mobility during the first quarter worth approximately $98,000. Caprock Group LLC bought a new stake in Blade Air Mobility in the fourth quarter worth approximately $109,000. Finally, SG Americas Securities LLC increased its holdings in Blade Air Mobility by 21.8% in the fourth quarter. SG Americas Securities LLC now owns 31,636 shares of the company’s stock worth $112,000 after purchasing an additional 5,652 shares in the last quarter. 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.