Blink Charging (NASDAQ:BLNK) Rating Lowered to “Sell” at Wall Street Zen

Blink Charging (NASDAQ:BLNK) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Blink Charging in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Blink Charging presently has a consensus rating of “Hold” and an average price target of $5.00.

Blink Charging Stock Performance

Shares of BLNK opened at $0.52 on Friday. The stock has a 50 day moving average of $0.64 and a 200 day moving average of $0.69. The company has a market capitalization of $74.28 million, a price-to-earnings ratio of -0.77 and a beta of 2.03. Blink Charging has a 12 month low of $0.45 and a 12 month high of $2.65.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $21.70 million. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%. As a group, equities research analysts predict that Blink Charging will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Blink Charging

Several institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Blink Charging by 8,386.8% during the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after purchasing an additional 873,989 shares during the period. Marshall Wace LLP bought a new stake in shares of Blink Charging in the second quarter valued at $119,000. Jump Financial LLC bought a new stake in shares of Blink Charging in the second quarter valued at $60,000. Engineers Gate Manager LP lifted its position in shares of Blink Charging by 58.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after buying an additional 10,851 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Blink Charging by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock valued at $7,722,000 after buying an additional 282,515 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Company Profile

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.