Blade Air Mobility (NASDAQ:BLDE) Price Target Increased to $6.00 by Analysts at JPMorgan Chase & Co.

Blade Air Mobility (NASDAQ:BLDE) had its price target boosted by JPMorgan Chase & Co. from $5.00 to $6.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Blade Air Mobility Trading Up 0.5 %

Blade Air Mobility stock opened at $3.81 on Tuesday. The firm has a 50 day simple moving average of $3.26 and a 200 day simple moving average of $3.28. Blade Air Mobility has a 1-year low of $2.06 and a 1-year high of $4.24. The firm has a market capitalization of $296.91 million, a price-to-earnings ratio of -5.77 and a beta of 1.09.

Blade Air Mobility (NASDAQ:BLDE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $67.95 million during the quarter, compared to analysts’ expectations of $62.86 million. Blade Air Mobility had a negative return on equity of 10.86% and a negative net margin of 20.64%. On average, equities research analysts forecast that Blade Air Mobility will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Blade Air Mobility

A number of institutional investors and hedge funds have recently modified their holdings of the company. ARK Investment Management LLC increased its holdings in Blade Air Mobility by 3.7% during the 2nd quarter. ARK Investment Management LLC now owns 6,443,137 shares of the company’s stock worth $22,422,000 after acquiring an additional 230,216 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Blade Air Mobility by 10.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock valued at $14,130,000 after purchasing an additional 381,308 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Blade Air Mobility by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,967,500 shares of the company’s stock worth $8,457,000 after purchasing an additional 28,622 shares during the period. AWM Investment Company Inc. raised its position in shares of Blade Air Mobility by 53.8% in the first quarter. AWM Investment Company Inc. now owns 2,136,378 shares of the company’s stock worth $6,089,000 after buying an additional 747,743 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Blade Air Mobility by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock worth $3,264,000 after buying an additional 181,630 shares in the last quarter. 47.36% of the stock is owned by hedge funds and other institutional investors.

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.