Insider Selling: Blade Air Mobility, Inc. (NASDAQ:BLDE) CEO Sells 2,100,000 Shares of Stock

Blade Air Mobility, Inc. (NASDAQ:BLDE) CEO Robert S. Wiesenthal sold 2,100,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $3.22, for a total value of $6,762,000.00. Following the sale, the chief executive officer now owns 4,812,892 shares in the company, valued at approximately $15,497,512.24. This represents a 30.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Blade Air Mobility Stock Down 7.6 %

NASDAQ BLDE opened at $3.16 on Monday. Blade Air Mobility, Inc. has a twelve month low of $2.45 and a twelve month high of $4.24. The stock has a market cap of $246.26 million, a P/E ratio of -4.58 and a beta of 1.05. The company’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $3.30.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price target on shares of Blade Air Mobility from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th.

Institutional Investors Weigh In On Blade Air Mobility

Several large investors have recently modified their holdings of the stock. CWM LLC increased its position in shares of Blade Air Mobility by 764.5% during the 2nd quarter. CWM LLC now owns 7,374 shares of the company’s stock worth $26,000 after purchasing an additional 6,521 shares in the last quarter. Cobblestone Capital Advisors LLC NY acquired a new position in Blade Air Mobility in the third quarter worth $35,000. Sei Investments Co. bought a new stake in shares of Blade Air Mobility during the second quarter worth $38,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Blade Air Mobility in the second quarter valued at $40,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Blade Air Mobility in the second quarter valued at about $50,000. 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.