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

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

Blade Air Mobility Stock Up 3.7 %

Shares of BLDE opened at $3.05 on Wednesday. The stock has a market cap of $235.91 million, a P/E ratio of -4.49 and a beta of 1.09. The business’s 50 day moving average price is $3.08 and its 200-day moving average price is $3.22. Blade Air Mobility has a 52 week low of $2.06 and a 52 week high of $4.24.

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

Institutional Trading of Blade Air Mobility

Several institutional investors have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Blade Air Mobility by 764.5% in the second quarter. CWM LLC now owns 7,374 shares of the company’s stock worth $26,000 after buying an additional 6,521 shares in the last quarter. Sei Investments Co. bought a new position in Blade Air Mobility in the 2nd quarter valued at approximately $38,000. EverSource Wealth Advisors LLC purchased a new stake in Blade Air Mobility during the 2nd quarter valued at $40,000. 1620 Investment Advisors Inc. purchased a new stake in Blade Air Mobility during the 2nd quarter valued at $50,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Blade Air Mobility by 70.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 21,850 shares of the company’s stock worth $62,000 after purchasing an additional 9,000 shares in the last quarter. 47.36% of the stock is owned by hedge funds and other 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.