Blade Air Mobility, Inc. (NASDAQ:BLDE) Sees Large Drop in Short Interest

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 4,220,000 shares, a decline of 5.6% from the May 31st total of 4,470,000 shares. Currently, 8.8% of the company’s shares are short sold. Based on an average daily volume of 646,300 shares, the days-to-cover ratio is currently 6.5 days.

Blade Air Mobility Stock Performance

Shares of NASDAQ:BLDE opened at $3.41 on Thursday. The stock’s 50-day moving average is $3.27 and its 200 day moving average is $3.23. Blade Air Mobility has a 1 year low of $2.06 and a 1 year high of $4.54.

Blade Air Mobility (NASDAQ:BLDE) last posted its earnings results on Tuesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.07. Blade Air Mobility had a negative return on equity of 11.78% and a negative net margin of 21.66%. The firm had revenue of $51.51 million for the quarter, compared to analysts’ expectations of $49.45 million. As a group, analysts forecast that Blade Air Mobility will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Blade Air Mobility

In related news, CAO Amir Cohen sold 11,008 shares of Blade Air Mobility stock in a transaction on Monday, June 10th. The shares were sold at an average price of $3.05, for a total value of $33,574.40. Following the transaction, the chief accounting officer now directly owns 84,374 shares of the company’s stock, valued at $257,340.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Blade Air Mobility by 152.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,145 shares of the company’s stock valued at $143,000 after buying an additional 33,258 shares during the period. Bouvel Investment Partners LLC grew its holdings in shares of Blade Air Mobility by 2.5% during the 4th quarter. Bouvel Investment Partners LLC now owns 179,614 shares of the company’s stock worth $634,000 after acquiring an additional 4,453 shares during the period. SG Americas Securities LLC raised its position in shares of Blade Air Mobility by 21.8% in the 4th quarter. SG Americas Securities LLC now owns 31,636 shares of the company’s stock worth $112,000 after acquiring an additional 5,652 shares in the last quarter. Caprock Group LLC bought a new position in shares of Blade Air Mobility in the 4th quarter worth approximately $109,000. Finally, Cerity Partners LLC lifted its stake in shares of Blade Air Mobility by 8.1% in the 4th quarter. Cerity Partners LLC now owns 402,662 shares of the company’s stock valued at $1,421,000 after purchasing an additional 30,000 shares during the period. 47.36% of the stock is currently owned by institutional investors.

Blade Air Mobility Company 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.