City State Bank Makes New Investment in Blade Air Mobility, Inc. (NASDAQ:BLDE)

City State Bank acquired a new position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 34,400 shares of the company’s stock, valued at approximately $101,000.

A number of other large investors have also recently bought and sold shares of the company. CWM LLC boosted its stake in shares of Blade Air Mobility by 764.5% in the 2nd quarter. CWM LLC now owns 7,374 shares of the company’s stock valued at $26,000 after purchasing an additional 6,521 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Blade Air Mobility in the 2nd quarter valued at approximately $38,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Blade Air Mobility in the 2nd quarter valued at approximately $40,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Blade Air Mobility in the 2nd quarter valued at approximately $50,000. Finally, SG Americas Securities LLC acquired a new stake in Blade Air Mobility during the 3rd quarter worth approximately $52,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Blade Air Mobility Price Performance

NASDAQ:BLDE opened at $3.52 on Monday. The firm’s 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.26. Blade Air Mobility, Inc. has a one year low of $2.06 and a one year high of $4.24. The company has a market cap of $274.31 million, a PE ratio of -5.33 and a beta of 1.09.

Blade Air Mobility (NASDAQ:BLDE) last posted its earnings results on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). Blade Air Mobility had a negative net margin of 20.64% and a negative return on equity of 10.86%. The business had revenue of $67.95 million for the quarter, compared to the consensus estimate of $62.86 million. Equities research analysts expect that Blade Air Mobility, Inc. will post -0.36 EPS for the current year.

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.