Lake Street Capital Begins Coverage on Blade Air Mobility (NASDAQ:BLDE)

Investment analysts at Lake Street Capital started coverage on shares of Blade Air Mobility (NASDAQ:BLDE) in a note issued to investors 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 suggest a potential upside of 86.78% from the company’s current price.

Separately, JPMorgan Chase & Co. boosted their target price on shares of 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 Stock Up 0.9 %

BLDE opened at $3.48 on Wednesday. The firm has a market capitalization of $272.53 million, a P/E ratio of -5.04 and a beta of 1.14. The stock has a fifty day moving average of $3.98 and a 200-day moving average of $3.66. Blade Air Mobility has a 12-month low of $2.45 and a 12-month high of $5.17.

Insiders Place Their Bets

In other Blade Air Mobility news, CFO William A. Heyburn sold 103,670 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.02, for a total transaction of $520,423.40. Following the completion of the sale, the chief financial officer now owns 1,223,120 shares of the company’s stock, valued at $6,140,062.40. This represents a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Melissa M. Tomkiel sold 22,135 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.02, for a total value of $111,117.70. Following the transaction, the general counsel now owns 1,061,626 shares in the company, valued at approximately $5,329,362.52. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,391 shares of company stock valued at $1,060,958 over the last quarter. Insiders own 18.00% of the company’s stock.

Institutional Trading of Blade Air Mobility

Large investors have recently modified their holdings of the company. ARK Investment Management LLC raised its holdings in Blade Air Mobility by 12.0% in the 3rd quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock worth $21,219,000 after acquiring an additional 774,114 shares during the period. GSA Capital Partners LLP increased its stake in shares of Blade Air Mobility by 245.6% in the third quarter. GSA Capital Partners LLP now owns 378,240 shares of the company’s stock worth $1,112,000 after purchasing an additional 268,802 shares during the period. Intech Investment Management LLC bought a new position in shares of Blade Air Mobility in the third quarter worth about $52,000. Charles Schwab Investment Management Inc. lifted its position in shares of Blade Air Mobility by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 170,117 shares of the company’s stock worth $500,000 after purchasing an additional 10,272 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in Blade Air Mobility by 610.0% during the 3rd quarter. Cerity Partners LLC now owns 303,439 shares of the company’s stock valued at $892,000 after purchasing an additional 260,699 shares during the period. 47.36% of the stock is 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.