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

Wall Street Zen cut shares of Blink Charging (NASDAQ:BLNK) from a hold rating to a sell rating in a research report released on Saturday.

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

Blink Charging Stock Performance

Shares of Blink Charging stock opened at $0.52 on Friday. The business’s 50 day simple moving average is $0.64 and its 200 day simple moving average is $0.69. Blink Charging has a 52-week low of $0.45 and a 52-week high of $2.65. The firm has a market cap of $74.28 million, a PE ratio of -0.77 and a beta of 2.03.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $20.78 million during the quarter, compared to the consensus estimate 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 EPS for the current year.

Institutional Trading of Blink Charging

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in Blink Charging by 1,256.4% in the fourth quarter. State Street Corp now owns 6,667,077 shares of the company’s stock valued at $4,447,000 after purchasing an additional 6,175,566 shares in the last quarter. Vanguard Group Inc. raised its stake 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 worth $7,722,000 after purchasing an additional 282,515 shares in the last quarter. Renaissance Technologies LLC raised 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 in the last quarter. UBS Group AG boosted its holdings in shares of Blink Charging by 67.9% in the 3rd quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock valued at $3,878,000 after buying an additional 956,556 shares during the last quarter. Finally, Sabby Management LLC bought a new position in shares of Blink Charging in the fourth quarter valued at $1,418,000. Institutional investors own 44.64% of the company’s stock.

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.