Blade Air Mobility (NASDAQ:BLDE) Coverage Initiated by Analysts at Lake Street Capital

Equities research analysts at Lake Street Capital assumed coverage on shares of Blade Air Mobility (NASDAQ:BLDE) in a report released on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $6.50 price target on the stock. Lake Street Capital’s price target would indicate a potential upside of 86.78% from the stock’s previous close.

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

Blade Air Mobility Price Performance

Shares of Blade Air Mobility stock opened at $3.48 on Wednesday. The company has a market cap of $272.53 million, a PE ratio of -5.04 and a beta of 1.14. The firm has a fifty day moving average price of $3.98 and a two-hundred day moving average price of $3.66. Blade Air Mobility has a fifty-two week low of $2.45 and a fifty-two week high of $5.17.

Insiders Place Their Bets

In other news, General Counsel Melissa M. Tomkiel sold 22,135 shares of Blade Air Mobility stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.02, for a total transaction of $111,117.70. Following the completion of the sale, the general counsel now owns 1,061,626 shares in the company, valued at $5,329,362.52. The trade was a 2.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William A. Heyburn sold 39,285 shares of Blade Air Mobility stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.02, for a total value of $197,210.70. Following the sale, the chief financial officer now directly owns 1,336,826 shares of the company’s stock, valued at approximately $6,710,866.52. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 211,391 shares of company stock valued at $1,060,958 in the last 90 days. 18.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blade Air Mobility

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new position in Blade Air Mobility in the 4th quarter worth $34,000. Cobblestone Capital Advisors LLC NY bought a new stake in Blade Air Mobility during the third quarter worth $35,000. Virtu Financial LLC acquired a new stake in Blade Air Mobility in the 4th quarter valued at about $53,000. Sunbelt Securities Inc. lifted its position in shares of Blade Air Mobility by 66,255.0% in the fourth quarter. Sunbelt Securities Inc. now owns 13,271 shares of the company’s stock valued at $58,000 after buying an additional 13,251 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Blade Air Mobility during the fourth quarter worth $62,000. 47.36% of the stock is currently owned by 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.