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

Blade Air Mobility (NASDAQ:BLDEFree Report) 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:BLDEGet Free Report) 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

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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.

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