HighTower Advisors LLC Lowers Stake in Blade Air Mobility, Inc. (NASDAQ:BLDE)

HighTower Advisors LLC decreased its position in Blade Air Mobility, Inc. (NASDAQ:BLDE) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,480 shares of the company’s stock after selling 5,224 shares during the quarter. HighTower Advisors LLC’s holdings in Blade Air Mobility were worth $104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Blade Air Mobility in the 3rd quarter valued at $52,000. SG Americas Securities LLC boosted 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 valued at $98,000 after acquiring an additional 5,297 shares during the period. Zacks Investment Management acquired a new position in Blade Air Mobility in the 3rd quarter valued at about $89,000. Stifel Financial Corp increased its stake in Blade Air Mobility by 18.9% during the third quarter. Stifel Financial Corp now owns 35,755 shares of the company’s stock worth $105,000 after purchasing an additional 5,683 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in shares of Blade Air Mobility during the third quarter worth about $119,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

Wall Street Analyst Weigh In

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 price objective for the company.

Insider Activity at Blade Air Mobility

In other news, CFO William A. Heyburn sold 103,670 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.02, for a total transaction of $520,423.40. Following the sale, the chief financial officer now owns 1,223,120 shares of the company’s stock, valued at approximately $6,140,062.40. This trade represents a 7.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is owned by corporate insiders.

Blade Air Mobility Price Performance

BLDE stock opened at $2.56 on Friday. The business’s 50-day moving average is $3.35 and its two-hundred day moving average is $3.65. Blade Air Mobility, Inc. has a 1 year low of $2.35 and a 1 year high of $5.17. The firm has a market capitalization of $204.02 million, a P/E ratio of -3.71 and a beta of 1.22.

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.