Blink Charging (NASDAQ:BLNK) Trading Down 4.8% – Here’s Why

Blink Charging Co. (NASDAQ:BLNK)’s share price was down 4.8% during trading on Monday . The company traded as low as $0.5354 and last traded at $0.5428. 1,491,472 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 2,042,199 shares. The stock had previously closed at $0.57.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a report on Friday, May 22nd. Wall Street Zen raised Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.00.

Blink Charging Stock Down 4.8%

The stock has a market capitalization of $77.99 million, a price-to-earnings ratio of -0.81 and a beta of 2.03. The firm has a fifty day moving average of $0.72 and a 200-day moving average of $0.71.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Blink Charging had a negative net margin of 73.75% and a negative return on equity of 83.40%. The firm had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $21.70 million. As a group, research analysts forecast that Blink Charging Co. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Blink Charging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLNK. State Street Corp boosted its stake in shares of Blink Charging by 1,256.4% during the 4th quarter. State Street Corp now owns 6,667,077 shares of the company’s stock worth $4,447,000 after purchasing an additional 6,175,566 shares during the last quarter. Vanguard Group Inc. raised its holdings in Blink Charging by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock valued at $7,722,000 after acquiring an additional 282,515 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Blink Charging by 227.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock worth $1,703,000 after purchasing an additional 1,773,109 shares during the period. UBS Group AG boosted its holdings in shares of Blink Charging by 67.9% during the third quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock worth $3,878,000 after purchasing an additional 956,556 shares during the last quarter. Finally, Sabby Management LLC purchased a new stake in shares of Blink Charging in the fourth quarter valued at $1,418,000. 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.