Blade Air Mobility (NASDAQ:BLDE) Price Target Cut to $8.00 by Analysts at Credit Suisse Group

Blade Air Mobility (NASDAQ:BLDE – Get Rating) had its price objective lowered by analysts at Credit Suisse Group from $10.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 132.56% from the company’s previous close.

Separately, JPMorgan Chase & Co. cut their price objective on Blade Air Mobility from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday.

Blade Air Mobility Price Performance

Shares of NASDAQ BLDE opened at $3.44 on Wednesday. The stock has a fifty day moving average price of $4.32 and a 200 day moving average price of $4.33. Blade Air Mobility has a 1-year low of $3.02 and a 1-year high of $9.90. The company has a market cap of $246.48 million, a PE ratio of -19.11 and a beta of 0.80.

Insider Activity

In other news, CEO Robert S. Wiesenthal sold 10,874 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $3.47, for a total value of $37,732.78. Following the completion of the transaction, the chief executive officer now owns 7,776,393 shares in the company, valued at $26,984,083.71. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 23,065 shares of company stock worth $80,036 over the last 90 days. 19.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC increased its position in shares of Blade Air Mobility by 7.5% in the first quarter. HighTower Advisors LLC now owns 29,413 shares of the company’s stock valued at $251,000 after buying an additional 2,051 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Blade Air Mobility by 36.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 8,795 shares of the company’s stock valued at $31,000 after acquiring an additional 2,355 shares during the last quarter. Stansberry Asset Management LLC boosted its stake in shares of Blade Air Mobility by 2.4% during the fourth quarter. Stansberry Asset Management LLC now owns 103,921 shares of the company’s stock valued at $372,000 after acquiring an additional 2,391 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Blade Air Mobility by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 144,488 shares of the company’s stock valued at $517,000 after acquiring an additional 3,614 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Blade Air Mobility by 31.3% during the fourth quarter. SG Americas Securities LLC now owns 23,381 shares of the company’s stock valued at $84,000 after acquiring an additional 5,574 shares during the last quarter. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Blade Air Mobility Company Profile

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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.