Blink Charging (NASDAQ:BLNK) Issues Earnings Results

Blink Charging (NASDAQ:BLNK) issued its quarterly earnings results on Monday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01, FiscalAI reports. Blink Charging had a negative return on equity of 84.25% and a negative net margin of 82.60%.The company had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $21.70 million.

Blink Charging Trading Up 13.1%

BLNK stock traded up $0.11 on Monday, hitting $0.96. 8,329,090 shares of the company’s stock traded hands, compared to its average volume of 2,580,386. The stock has a market cap of $137.35 million, a price-to-earnings ratio of -1.21 and a beta of 1.99. Blink Charging has a 1-year low of $0.45 and a 1-year high of $2.65. The stock has a fifty day moving average of $0.66 and a 200-day moving average of $0.91.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors and hedge funds have recently modified their holdings of BLNK. Squarepoint Ops LLC bought a new stake in shares of Blink Charging during the 3rd quarter worth $33,000. Engineers Gate Manager LP raised its position in shares of Blink Charging by 58.8% during the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after purchasing an additional 10,851 shares during the period. State of Wyoming purchased a new stake in shares of Blink Charging during the fourth quarter valued at $29,000. Kestra Advisory Services LLC boosted its position in shares of Blink Charging by 60.5% in the 4th quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock valued at $34,000 after purchasing an additional 18,950 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Blink Charging in the 2nd quarter valued at $60,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Blink Charging from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Blink Charging has a consensus rating of “Hold” and a consensus price target of $2.33.

About Blink Charging

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.