Amir Cohen, the Chief Accounting Officer of Blade Air Mobility, Inc. (NASDAQ:BLDE), recently sold shares of the company's stock, according to a filing with the Securities and Exchange Commission. The sales come as the stock has shown remarkable strength, posting a 50.7% gain over the past six months and trading near $4.59, close to its 52-week high of $5.17. On December 2, Cohen sold 5,000 shares at a weighted average price ranging from $4.55 to $4.561, totaling $22,771. Cohen followed up with another sale on December 4, selling 5,150 shares at $4.36 per share, amounting to $22,454. After these transactions, Cohen holds 64,441 shares directly. According to InvestingPro data, the company maintains strong financial health with more cash than debt and high liquidity ratios, while analysts have set a high price target of $13.50 for the stock. Get comprehensive insider trading analysis and 8 additional key insights with InvestingPro's detailed research report.
In other recent news, Blade Air Mobility reported strong financial results for the third quarter of 2024, with its flight profit increasing by 27.3% year-over-year and an adjusted EBITDA of $4.2 million, a significant rise from $0.8 million in the previous year. The company has made strategic moves such as exiting unprofitable markets and partnering with OrganOx, which are expected to contribute to future growth. Despite a drop in medical revenue, Blade Air Mobility anticipates a rebound in the fourth quarter and projects double-digit growth for 2025. The company closed the third quarter with no debt and $136 million in cash. Blade Air Mobility forecasts a revenue between $240 million and $250 million for 2024, with an expected positive adjusted EBITDA. The company also anticipates double-digit growth in medical revenue and adjusted EBITDA margins of approximately 15% for 2025.
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