Blink Charging (NASDAQ:BLNK) Trading Down 5.4% – What’s Next?

Blink Charging Co. (NASDAQ:BLNK) dropped 5.4% during trading on Tuesday . The stock traded as low as $0.8350 and last traded at $0.8387. Approximately 3,785,866 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 3,836,874 shares. The stock had previously closed at $0.8870.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Blink Charging from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded Blink Charging from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Blink Charging in a research note on Friday, January 9th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Blink Charging has an average rating of “Hold” and an average price target of $2.13.

Blink Charging Stock Performance

The firm has a market capitalization of $96.11 million, a P/E ratio of -0.68 and a beta of 1.78. The company has a 50-day simple moving average of $1.00 and a two-hundred day simple moving average of $1.24.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Blink Charging had a negative net margin of 118.41% and a negative return on equity of 74.28%. The company had revenue of $27.03 million during the quarter, compared to analysts’ expectations of $30.08 million. As a group, research analysts forecast that Blink Charging Co. will post -0.64 earnings per share for the current fiscal year.

Insider Activity at Blink Charging

In related news, CFO Michael Bercovich purchased 65,333 shares of Blink Charging stock in a transaction dated Friday, December 12th. The stock was purchased at an average cost of $0.77 per share, for a total transaction of $50,306.41. Following the completion of the acquisition, the chief financial officer directly owned 188,563 shares of the company’s stock, valued at $145,193.51. The trade was a 53.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Blink Charging

A number of institutional investors and hedge funds have recently bought and sold shares of BLNK. AQR Capital Management LLC lifted its stake in shares of Blink Charging by 8,386.8% in the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock worth $812,000 after buying an additional 873,989 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Blink Charging in the 2nd quarter valued at approximately $64,000. Catalyst Funds Management Pty Ltd purchased a new stake in Blink Charging during the 2nd quarter valued at $42,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Blink Charging by 62.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company’s stock worth $57,000 after purchasing an additional 23,438 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Blink Charging in the second quarter worth $384,000. 44.64% of the stock is currently owned by institutional investors.

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.