Blade Air Mobility Reports Quarterly Financial Results
Blade Air Mobility (NASDAQ:BLDE) announced its financial results for the recent quarter, revealing a net loss of $0.05 per share, which fell short of analysts' expectations by $0.01. Despite this, the company surpassed revenue forecasts, posting $70.80 million against an anticipated $64.09 million. During trading hours, the stock experienced a decline of 6.1%, closing at $4.16, and the company's market capitalization stood at approximately $337 million.
Insider Trading Activities
In insider trading updates, both the CFO, William A. Heyburn, and General Counsel, Melissa M. Tomkiel, sold 100,000 shares each on June 9th. These transactions reduced their ownership stakes by about 6.85% and 7.99%, respectively. Following the sales, the CFO retained around 1.36 million shares valued at over $5.5 million, while the General Counsel held roughly 1.15 million shares worth nearly $4.7 million.
Stock Trading and Market Performance
The company's stock traded actively, with over 4.6 million shares exchanged, significantly above its average volume. Its 50-day moving average was $4.02, and the 200-day ave...