Blink Charging (NASDAQ:BLNK) Stock Price Up 6.3%

Blink Charging Co (NASDAQ:BLNK)’s share price rose 6.3% during trading on Wednesday . The stock traded as high as $2.75 and last traded at $2.68, approximately 297,400 shares changed hands during mid-day trading. A decline of 52% from the average daily volume of 618,861 shares. The stock had previously closed at $2.52.

BLNK has been the subject of several recent analyst reports. Zacks Investment Research raised Blink Charging from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Wednesday, August 21st. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research report on Friday, May 17th. Finally, ThinkEquity initiated coverage on Blink Charging in a research report on Monday, August 26th. They issued a “buy” rating and a $5.00 target price for the company.

The firm has a market cap of $69.80 million, a price-to-earnings ratio of -2.16 and a beta of 4.82. The company has a 50-day moving average price of $2.67 and a 200 day moving average price of $2.83. The company has a quick ratio of 3.54, a current ratio of 3.96 and a debt-to-equity ratio of 0.02.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Wednesday, August 14th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $0.71 million. Blink Charging had a negative return on equity of 58.19% and a negative net margin of 309.42%. Equities analysts forecast that Blink Charging Co will post -0.33 EPS for the current year.

An institutional investor recently raised its position in Blink Charging stock. BlackRock Inc. boosted its position in shares of Blink Charging Co (NASDAQ:BLNK) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 374,897 shares of the company’s stock after purchasing an additional 6,883 shares during the period. BlackRock Inc. owned 1.43% of Blink Charging worth $1,005,000 at the end of the most recent reporting period. 12.22% of the stock is owned by institutional investors and hedge funds.

Blink Charging Company Profile (NASDAQ:BLNK)

Blink Charging Co owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types. It also provides Blink Network, a cloud-based software that operates, maintains, and tracks various Blink EV charging stations and associated charging data, as well as provides property owners, managers, and parking companies with cloud-based services that enable the remote monitoring and management of EV charging stations and payment processing.

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