Southpoint Capital Advisors LP Purchases Shares of 75,000 Blink Charging Co. (NASDAQ:BLNK)

Southpoint Capital Advisors LP purchased a new stake in shares of Blink Charging Co. (NASDAQ:BLNK) in the first quarter, Holdings Channel.com reports. The firm purchased 75,000 shares of the company’s stock, valued at approximately $3,083,000.

Several other institutional investors have also recently added to or reduced their stakes in BLNK. Federated Hermes Inc. raised its position in shares of Blink Charging by 499,370.6% in the first quarter. Federated Hermes Inc. now owns 339,640 shares of the company’s stock worth $13,959,000 after buying an additional 339,572 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Blink Charging by 45.6% in the 1st quarter. BlackRock Inc. now owns 687,418 shares of the company’s stock valued at $28,254,000 after acquiring an additional 215,232 shares in the last quarter. Morgan Stanley raised its holdings in shares of Blink Charging by 228.1% in the 1st quarter. Morgan Stanley now owns 252,928 shares of the company’s stock valued at $10,395,000 after acquiring an additional 175,838 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Blink Charging by 90.1% during the 1st quarter. Alps Advisors Inc. now owns 339,728 shares of the company’s stock valued at $13,963,000 after acquiring an additional 161,057 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Blink Charging during the first quarter worth about $5,284,000. 27.83% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on BLNK shares. Roth Capital dropped their target price on shares of Blink Charging from $58.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, May 14th. Needham & Company LLC began coverage on shares of Blink Charging in a report on Monday, May 10th. They set a “buy” rating and a $39.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.00.

Shares of NASDAQ BLNK traded down $1.53 during trading hours on Thursday, reaching $32.67. 20,188 shares of the stock traded hands, compared to its average volume of 1,859,706. The business’s 50-day moving average is $36.33. The stock has a market cap of $1.37 billion, a P/E ratio of -52.61 and a beta of 3.88. Blink Charging Co. has a 52-week low of $5.77 and a 52-week high of $64.50.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Wednesday, May 12th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The business had revenue of $2.23 million for the quarter, compared to the consensus estimate of $1.71 million. Blink Charging had a negative net margin of 310.60% and a negative return on equity of 30.48%. On average, analysts anticipate that Blink Charging Co. will post -0.69 EPS for the current year.

Blink Charging Profile

Blink Charging Co, through its subsidiaries, owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types.

See Also: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for Blink Charging (NASDAQ:BLNK)

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