Blade Air Mobility Inc (NASDAQ: BLDE) stock jumped 3.47% on Friday to $3.58 against a previous-day closing price of $3.46. With 0.61 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.62 million shares. During the session, the Airports & Air Services company that operates in wider Industrials sector, reached to the highest price of $3.6300 whereas the lowest price it dropped to was $3.5000. The 52-week range on BLDE shows that it touched its highest point at $5.09 and its lowest point at $2.06 during that stretch. It currently has a 1-year price target of $7.70. Beta for the stock currently stands at 1.18.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BLDE was up-trending over the past week, with a rise of 12.23%, but this was up by 64.98% over a month. A look at the trailing 12-month EPS for BLDE yields -0.52 with Next year EPS estimates of -0.34. For the next quarter, that number is -0.10. This implies an EPS growth rate of 1.80% for this year and 10.85% for next year.
Float and Shares Shorts:
At present, 71.66 million BLDE shares are outstanding with a float of 45.01 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.69 million, which was 3.62% higher than short shares on Sep 28, 2023. In addition to Mr. Robert S. Wiesenthal as the firm’s CEO & Director, Ms. Melissa M. Tomkiel serves as its President, General Counsel & Corporate Secretary.
Institutional Ownership:
Through their ownership of 65.10% of BLDE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 31.98% of BLDE, in contrast to 24.72% held by mutual funds. Shares owned by individuals account for 17.61%. As the largest shareholder in BLDE with 9.17% of the stake, ARK Investment Management LLC holds 6,793,726 shares worth 6,793,726. A second-largest stockholder of BLDE, Nikko Asset Management Americas,, holds 4,260,261 shares, controlling over 5.75% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BLDE, holding 3,467,468 shares or 4.68% stake. With a 6.70% stake in BLDE, the ARK Autonomous Technology & Robot is the largest stakeholder. A total of 4,962,358 shares are owned by the mutual fund manager. The Nikko Asset Global Mobility Servi, which owns about 3.23% of BLDE stock, is the second-largest Mutual Fund holder. It holds 2,393,852 shares valued at 5.1 million. Vanguard Total Stock Market ETF holds 2.40% of the stake in BLDE, owning 1,780,179 shares worth 3.79 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. Over the past year, revenue came in at $67.16M while operating income stood at -$32.26M. EBITDA for the full year was -$21.93M.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLDE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BLDE analysts setting a high price target of $13.50 and a low target of $5.00, the average target price over the next 12 months is $7.70. Based on these targets, BLDE could surge 277.09% to reach the target high and rise by 39.66% to reach the target low. Reaching the average price target will result in a growth of 115.08% from current levels.
Summary of Insider Activity:
Insiders traded BLDE stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 13,516 shares were bought while 10,860 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 528,758 while 623,900 shares were sold.
