ARK Investment Management LLC Acquires 774,114 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

ARK Investment Management LLC boosted its holdings in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 12.0% in the third quarter, HoldingsChannel reports. The firm owned 7,217,251 shares of the company’s stock after acquiring an additional 774,114 shares during the period. ARK Investment Management LLC owned approximately 0.09% of Blade Air Mobility worth $21,219,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BLDE. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Blade Air Mobility by 10.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock valued at $14,130,000 after buying an additional 381,308 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Blade Air Mobility by 1.0% during 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 in the last quarter. AWM Investment Company Inc. grew its stake in shares of Blade Air Mobility by 53.8% during the first quarter. AWM Investment Company Inc. now owns 2,136,378 shares of the company’s stock valued at $6,089,000 after purchasing an additional 747,743 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Blade Air Mobility by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock worth $3,264,000 after purchasing an additional 181,630 shares during the last quarter. Finally, Raymond James & Associates raised its position in Blade Air Mobility by 6.0% in the 2nd quarter. Raymond James & Associates now owns 653,887 shares of the company’s stock worth $2,276,000 after purchasing an additional 37,243 shares during the last quarter. Institutional investors own 47.36% of the company’s stock.

Blade Air Mobility Trading Down 0.3 %

Shares of NASDAQ BLDE opened at $3.73 on Friday. The firm has a market capitalization of $290.69 million, a PE ratio of -5.65 and a beta of 1.05. The firm’s 50-day moving average is $3.33 and its 200-day moving average is $3.28. Blade Air Mobility, Inc. has a 1 year low of $2.45 and a 1 year high of $4.24.

Blade Air Mobility (NASDAQ:BLDE) last released its earnings results on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $67.95 million during the quarter, compared to analyst estimates of $62.86 million. Blade Air Mobility had a negative net margin of 20.64% and a negative return on equity of 10.86%. As a group, equities research analysts anticipate that Blade Air Mobility, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their target price on Blade Air Mobility from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th.

Blade Air Mobility Profile

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.