Blade Air Mobility (BLDE) Scheduled to Post Quarterly Earnings on Thursday

Posted by Defense World Staff on May 4th, 2023

Blade Air Mobility (NASDAQ:BLDE – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, May 11th. Analysts expect Blade Air Mobility to post earnings of ($0.17) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Blade Air Mobility (NASDAQ:BLDE – Get Rating) last announced its quarterly earnings data on Wednesday, March 15th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). Blade Air Mobility had a negative return on equity of 15.61% and a negative net margin of 18.72%. The company had revenue of $38.14 million for the quarter, compared to analyst estimates of $35.11 million. On average, analysts expect Blade Air Mobility to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Blade Air Mobility Stock Performance

Shares of Blade Air Mobility stock opened at $2.63 on Thursday. The business has a 50-day simple moving average of $3.35 and a 200-day simple moving average of $3.97. The company has a market cap of $189.45 million, a PE ratio of -6.58 and a beta of 0.74. Blade Air Mobility has a one year low of $2.55 and a one year high of $8.75.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLDE shares. Citigroup reduced their price objective on Blade Air Mobility from $11.00 to $9.00 in a research note on Sunday, April 2nd. JPMorgan Chase & Co. reduced their price objective on Blade Air Mobility from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 15th. Oppenheimer reduced their price objective on Blade Air Mobility from $7.00 to $6.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 15th. Finally, Credit Suisse Group reduced their target price on Blade Air Mobility from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 15th.

Insiders Place Their Bets

In other news, General Counsel Melissa M. Tomkiel sold 12,151 shares of the business’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $2.98, for a total value of $36,209.98. Following the sale, the general counsel now owns 1,427,102 shares of the company’s stock, valued at approximately $4,252,763.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blade Air Mobility news, General Counsel Melissa M. Tomkiel sold 12,151 shares of the business’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $2.98, for a total value of $36,209.98. Following the transaction, the general counsel now owns 1,427,102 shares in the company, valued at $4,252,763.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Melissa M. Tomkiel sold 18,439 shares of the company’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $2.83, for a total value of $52,182.37. Following the sale, the general counsel now owns 1,399,302 shares of the company’s stock, valued at approximately $3,960,024.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,631 shares of company stock worth $429,482. 17.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blade Air Mobility

Several large investors have recently added to or reduced their stakes in the company. Ergoteles LLC bought a new position in Blade Air Mobility in the 1st quarter valued at $175,000. LPL Financial LLC acquired a new stake in Blade Air Mobility during the 2nd quarter worth $137,000. AQR Capital Management LLC acquired a new stake in shares of Blade Air Mobility in the 4th quarter valued at about $135,000. American International Group Inc. acquired a new stake in shares of Blade Air Mobility in the 2nd quarter valued at about $117,000. Finally, Barclays PLC raised its stake in shares of Blade Air Mobility by 89.5% in the 4th quarter. Barclays PLC now owns 27,238 shares of the company’s stock valued at $97,000 after purchasing an additional 12,863 shares during the period. Institutional investors and hedge funds own 54.05% of the company’s stock.

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.