Insider Selling: Blade Air Mobility, Inc. (NASDAQ:BLDE) CEO Sells 2,100,000 Shares of Stock

Blade Air Mobility, Inc. (NASDAQ:BLDE) CEO Robert S. Wiesenthal sold 2,100,000 shares of Blade Air Mobility stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $3.22, for a total transaction of $6,762,000.00. Following the completion of the transaction, the chief executive officer now owns 4,812,892 shares in the company, valued at approximately $15,497,512.24. This trade represents a 30.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Blade Air Mobility Stock Performance

Shares of BLDE stock traded down $0.29 during mid-day trading on Friday, reaching $3.13. The company’s stock had a trading volume of 761,711 shares, compared to its average volume of 649,597. The company’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.30. Blade Air Mobility, Inc. has a 12-month low of $2.45 and a 12-month high of $4.24.

Hedge Funds Weigh In On Blade Air Mobility

A number of hedge funds have recently made changes to their positions in BLDE. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Blade Air Mobility in the 1st quarter valued at $66,000. Vanguard Group Inc. increased its stake in Blade Air Mobility by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,967,500 shares of the company’s stock worth $8,457,000 after buying an additional 28,622 shares during the period. AWM Investment Company Inc. increased its stake in Blade Air Mobility by 53.8% during the 1st 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 during the period. B. Riley Wealth Advisors Inc. increased its stake in Blade Air Mobility by 70.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 21,850 shares of the company’s stock worth $62,000 after buying an additional 9,000 shares during the period. Finally, Tidal Investments LLC purchased a new stake in Blade Air Mobility during the 1st quarter worth $1,721,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.