Blade Air Mobility, Inc. (NASDAQ:BLDE) Short Interest Down 5.6% in June

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 4,220,000 shares, a decrease 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 shares of the stock are short sold.

Insider Activity

In other news, CAO Amir Cohen sold 11,008 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 84,374 shares in the company, valued at $257,340.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Blade Air Mobility

Hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased 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 worth $62,000 after purchasing an additional 9,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Blade Air Mobility during the first quarter valued at about $66,000. City State Bank acquired a new stake in shares of Blade Air Mobility during the first quarter valued at about $98,000. Caprock Group LLC acquired a new stake in shares of Blade Air Mobility during the fourth quarter valued at about $109,000. Finally, SG Americas Securities LLC increased its position in shares of Blade Air Mobility by 21.8% during the fourth quarter. SG Americas Securities LLC now owns 31,636 shares of the company’s stock valued at $112,000 after acquiring an additional 5,652 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Blade Air Mobility Trading Down 0.3 %

Blade Air Mobility stock traded down $0.01 during midday trading on Wednesday, hitting $3.41. 189,045 shares of the stock were exchanged, compared to its average volume of 706,011. Blade Air Mobility has a fifty-two week low of $2.06 and a fifty-two week high of $4.54. The stock has a market capitalization of $263.76 million, a price-to-earnings ratio of -5.01 and a beta of 1.09. The stock’s 50-day simple moving average is $3.27 and its 200 day simple moving average is $3.23.

Blade Air Mobility (NASDAQ:BLDE) last released its quarterly earnings data 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. Blade Air Mobility had a negative net margin of 21.66% and a negative return on equity of 11.78%. The firm had revenue of $51.51 million during the quarter, compared to analysts’ expectations of $49.45 million. Equities analysts anticipate that Blade Air Mobility will post -0.17 EPS for the current fiscal year.

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.