Blade Air Mobility Inc [NASDAQ: BLDE] stock went on an upward path that rose over 29.52% on Wednesday, amounting to a one-week price increase of more than 41.35%. The company report on November 8, 2023 at 7:30 AM that Blade Air Mobility Reports Financial Results for the Third Quarter Ended September 30, 2023.
Third quarter ended September 30, 2023 net cash from operating activities of $2.0 million, achieving positive Free Cash Flow(1) of $1.3 million in Q3 2023, an $8.4 million increase in net cash from operating activities and a $7.8 million increase in Free Cash Flow versus Q3 2022.
Net Income of $0.3 million, achieving Adjusted EBITDA(1) profitability of $0.8 million in Q3 2023.
Over the last 12 months, BLDE stock dropped by -37.45%. The one-year Blade Air Mobility Inc stock forecast points to a potential upside of 61.82. The average equity rating for BLDE stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $217.88 million, with 71.66 million shares outstanding and 44.75 million shares in the current float. Compared to the average trading volume of 505.25K shares, BLDE stock reached a trading volume of 5331814 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Blade Air Mobility Inc [BLDE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLDE shares is $7.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLDE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ladenburg Thalmann have made an estimate for Blade Air Mobility Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 18, 2023.
The Average True Range (ATR) for Blade Air Mobility Inc is set at 0.18, with the Price to Sales ratio for BLDE stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 2.32.
BLDE Stock Performance Analysis:
Blade Air Mobility Inc [BLDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 41.35. With this latest performance, BLDE shares gained by 19.51% in over the last four-week period, additionally plugging by 2.08% over the last 6 months – not to mention a drop of -37.45% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLDE stock in for the last two-week period is set at 67.49, with the RSI for the last a single of trading hit 75.22, and the three-weeks RSI is set at 60.84 for Blade Air Mobility Inc [BLDE]. The present Moving Average for the last 50 days of trading for this stock 2.59, while it was recorded at 2.42 for the last single week of trading, and 3.39 for the last 200 days.
Insight into Blade Air Mobility Inc Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Blade Air Mobility Inc [BLDE] shares currently have an operating margin of -34.56 and a Gross Margin at +11.89. Blade Air Mobility Inc’s Net Margin is presently recorded at -18.66.
Return on Total Capital for BLDE is now -17.27, given the latest momentum, and Return on Invested Capital for the company is -9.39. Return on Equity for this stock declined to -9.64, with Return on Assets sitting at -8.16. When it comes to the capital structure of this company, Blade Air Mobility Inc [BLDE] has a Total Debt to Total Equity ratio set at 6.68. Additionally, BLDE Total Debt to Total Capital is recorded at 6.26, with Total Debt to Total Assets ending up at 5.64. Long-Term Debt to Equity for the company is recorded at 5.45, with the Long-Term Debt to Total Capital now at 5.11.
Reflecting on the efficiency of the workforce at the company, Blade Air Mobility Inc [BLDE] managed to generate an average of -$110,813 per employee. Receivables Turnover for the company is 19.96 with a Total Asset Turnover recorded at a value of 0.44.Blade Air Mobility Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.14 and a Current Ratio set at 7.14.
Blade Air Mobility Inc [BLDE] Institutonal Ownership Details
The top three institutional holders of BLDE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in BLDE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in BLDE stock with ownership which is approximately 5.7994%.