$19.02 Million in Sales Expected for Blade Air Mobility, Inc. (NASDAQ:BLDE) This Quarter

Analysts expect Blade Air Mobility, Inc. (NASDAQ:BLDEGet Rating) to report $19.02 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Blade Air Mobility’s earnings, with estimates ranging from $18.28 million to $19.76 million. Blade Air Mobility reported sales of $9.27 million during the same quarter last year, which indicates a positive year over year growth rate of 105.2%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Blade Air Mobility will report full year sales of $32.45 million for the current year. For the next year, analysts forecast that the company will post sales of $176.38 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Blade Air Mobility.

Blade Air Mobility (NASDAQ:BLDEGet Rating) last announced its quarterly earnings data on Thursday, February 10th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. The company had revenue of $24.62 million during the quarter, compared to the consensus estimate of $15.96 million. Blade Air Mobility had a negative net margin of 54.97% and a negative return on equity of 14.04%.

Separately, Zacks Investment Research raised shares of Blade Air Mobility from a “sell” rating to a “hold” rating in a report on Friday, March 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $13.88.

Blade Air Mobility stock traded up $0.25 during midday trading on Friday, hitting $9.71. The company’s stock had a trading volume of 14,833 shares, compared to its average volume of 742,278. The company has a 50-day moving average price of $7.65 and a two-hundred day moving average price of $8.29. The company has a market cap of $687.91 million, a price-to-earnings ratio of -9.46 and a beta of -0.17. Blade Air Mobility has a 1-year low of $5.34 and a 1-year high of $11.99.

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in Blade Air Mobility by 1,982.4% during the fourth quarter. State Street Corp now owns 3,127,821 shares of the company’s stock valued at $27,619,000 after buying an additional 2,977,621 shares during the period. ARK Investment Management LLC grew its position in Blade Air Mobility by 34.7% during the fourth quarter. ARK Investment Management LLC now owns 7,941,557 shares of the company’s stock valued at $70,124,000 after buying an additional 2,043,985 shares during the period. Nikko Asset Management Americas Inc. grew its position in Blade Air Mobility by 97.1% during the third quarter. Nikko Asset Management Americas Inc. now owns 3,256,834 shares of the company’s stock valued at $34,685,000 after buying an additional 1,604,814 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Blade Air Mobility by 95.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,221,994 shares of the company’s stock valued at $33,509,000 after buying an additional 1,575,574 shares during the period. Finally, Allen Investment Management LLC bought a new position in Blade Air Mobility during the fourth quarter worth about $4,571,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

About Blade Air Mobility (Get Rating)

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.

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