Short Interest in Blade Air Mobility, Inc. (NASDAQ:BLDE) Decreases By 5.6%

Blade Air Mobility, Inc. (NASDAQ:BLDE) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 3,890,000 shares, a decline of 5.6% from the August 31st total of 4,120,000 shares. Based on an average daily trading volume, of 556,600 shares, the short-interest ratio is currently 7.0 days. Approximately 7.8% of the company’s shares are sold short.

Blade Air Mobility Trading Up 3.7 %

NASDAQ BLDE opened at $3.05 on Wednesday. The firm has a market cap of $235.91 million, a PE ratio of -4.49 and a beta of 1.09. Blade Air Mobility has a 1-year low of $2.06 and a 1-year high of $4.24. The stock has a 50-day moving average of $3.08 and a 200-day moving average of $3.22.

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

Institutional Investors Weigh In On Blade Air Mobility

Institutional investors have recently added to or reduced their stakes in the company. AWM Investment Company Inc. increased its position in shares of Blade Air Mobility by 53.8% in the first quarter. AWM Investment Company Inc. now owns 2,136,378 shares of the company’s stock valued at $6,089,000 after acquiring an additional 747,743 shares during the period. Tidal Investments LLC bought a new position in Blade Air Mobility in the 1st quarter worth $1,721,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Blade Air Mobility by 10.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock valued at $14,130,000 after purchasing an additional 381,308 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Blade Air Mobility by 3.7% during the 2nd quarter. ARK Investment Management LLC now owns 6,443,137 shares of the company’s stock worth $22,422,000 after acquiring an additional 230,216 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 acquiring an additional 181,630 shares in the last quarter. Hedge funds and other institutional investors own 47.36% of the company’s stock.

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.