Blade Air Mobility (NASDAQ:BLDE) Price Target Cut to $6.50 by Analysts at Oppenheimer

Blade Air Mobility (NASDAQ:BLDE – Get Rating) had its price target trimmed by Oppenheimer from $7.00 to $6.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock. Oppenheimer also issued estimates for Blade Air Mobility’s Q1 2023 earnings at ($0.16) EPS, Q2 2023 earnings at ($0.13) EPS, Q3 2023 earnings at ($0.08) EPS, Q4 2023 earnings at ($0.13) EPS, FY2023 earnings at ($0.49) EPS, FY2024 earnings at ($0.36) EPS, FY2025 earnings at ($0.25) EPS and FY2026 earnings at ($0.14) EPS.

BLDE has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on Blade Air Mobility from $6.00 to $5.00 and set an overweight rating on the stock in a research note on Wednesday. Credit Suisse Group reduced their price target on Blade Air Mobility from $10.00 to $8.00 and set an outperform rating on the stock in a research note on Wednesday.

Blade Air Mobility Stock Down 9.0 %

Shares of BLDE stock opened at $3.13 on Wednesday. The business’s fifty day moving average is $4.31 and its 200 day moving average is $4.31. Blade Air Mobility has a twelve month low of $3.02 and a twelve month high of $9.90.

Insider Transactions at Blade Air Mobility

In other news, CEO Robert S. Wiesenthal sold 10,874 shares of the 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 sale, the chief executive officer now directly owns 7,776,393 shares of the company’s stock, valued at $26,984,083.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 23,065 shares of company stock valued at $80,036. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Blade Air Mobility

A number of institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC grew its stake 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 worth $251,000 after acquiring an additional 2,051 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings 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 purchasing an additional 2,355 shares in the last quarter. Stansberry Asset Management LLC lifted its holdings 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 purchasing an additional 2,391 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 3,614 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings 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 purchasing an additional 5,574 shares in the last quarter. 54.05% of the stock is owned by hedge funds and other institutional investors.

About Blade Air Mobility

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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.