The stock of Blade Air Mobility Inc. (NASDAQ:BLDE) increased by $0.1 on Friday to finish at $3.78, up 2.58 percent. The last five days have seen an average of 796,120 shares of common stock traded. 10 times new highs were reached in the current year, with a gain of $0.20. The average number of shares traded over the last 20 days was 780,605, while the average volume over the last 50 days totaled 691,530.
BLDE stock dropped -4.55% since last month. On 08/09/23, the company’s shares reached a one-month low of $3.47. The stock touched a high of $6.86 on 02/03/23, after rallying from a low of $2.51 in 52 weeks. The price of BLDE stock has risen by 5.59% or $0.20 this year, reaching a new high 10 times. Still, the stock price is down -44.90% from the 52-week high.
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Insider Transactions
BLDE stock investors should be aware that Blade Air Mobility Inc. (BLDE) stock had its last reported insider trading activity 35 days ago on Jul 10. On Jul 10, President and General Counsel Tomkiel Melissa M. sold 35,623 shares at $3.88 each. This transaction resulted in the insider making $138,374. On Jul 10, Heyburn William A. sold 32,774 shares at a price of US$3.88. After the transaction, the insider now owns 1,373,413 shares. President and General Counsel Tomkiel Melissa M. had earlier sold 27,576 shares on Jul 07 for $3.82 a share. The transaction was completed for $105,390.
Valuation Metrics
Beta for the stock is 0.83. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.64, the price-to-book (PB) ratio of 1.06.
Financial Health
For the three months ended June 29, Blade Air Mobility Inc.’s quick ratio was 7.10, while its current ratio was 7.10, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 16.90% percent. Blade Air Mobility Inc.’s EBITDA margin for the year ended June 29 was -30.64%, whereas its operating margin stood at -33.50% for the same period. Based on annual data, it had gross profit of $22.27 million and revenue of $146.12 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BLDE’s return on assets (ROA) during the last 12 months has been -14.60%. There was a -19.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -17.30%.
Earnings Surprise
According to Blade Air Mobility Inc.’s quarterly financial report for the quarter that ended June 29, it had $132.34 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $60.99 million, while revenues rose by 41.58% to $45.27 million. It was predicted that Blade Air Mobility Inc.’s quarterly earnings would be -$0.17, but it ended up being -$0.14, beating the consensus by -21.40%. EBITDA was -$10.4 million for the quarter. At the end of Blade Air Mobility Inc.’s most recent quarter ended June 29, its liabilities totaled 59.42 million, while its total debt was $24.21 million. Equity owned by shareholders amounts to $74.11 million.
Technical Picture
Here’s a quick look at Blade Air Mobility Inc.’s (BLDE) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 44.40%, suggesting the stock is Neutral, with a 62.43% historical volatility rate.
The stochastic %K and %D were 32.39% and 32.76% respectively, while the average true range (ATR) was 0.27. Based on the 14-day stochastic reading of 34.46%, the RSI (14) reading is 46.64%. On the 9-day MACD Oscillator, the stock is at -0.14, and the 14-day reading is at -0.15.
Analyst Ratings
In its analyst report released on July 18, 2023, Ladenburg Thalmann began covering Blade Air Mobility Inc. (NASDAQ: BLDE). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Blade Air Mobility Inc. (BLDE) an Buy rating. BLDE is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is BLDE’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.00 and $13.50, with a median target price of $6.50. In analyzing these forecasts, the average price target given by analysts for Blade Air Mobility Inc. (BLDE) is $7.92.
