Renaissance Technologies LLC Trims Position in Blink Charging Co. $BLNK

Renaissance Technologies LLC decreased its holdings in shares of Blink Charging Co. (NASDAQ:BLNK) by 41.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,501,600 shares of the company’s stock after selling 1,051,884 shares during the period. Renaissance Technologies LLC owned approximately 1.05% of Blink Charging worth $851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLNK. Sabby Management LLC acquired a new stake in Blink Charging during the 4th quarter worth approximately $1,418,000. Geode Capital Management LLC grew its stake in shares of Blink Charging by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 1,372,284 shares of the company’s stock valued at $916,000 after purchasing an additional 103,755 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Blink Charging in the fourth quarter valued at approximately $141,000. Marshall Wace LLP acquired a new position in shares of Blink Charging in the second quarter valued at approximately $119,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Blink Charging during the fourth quarter worth approximately $60,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BLNK shares. Wall Street Zen upgraded shares of Blink Charging from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd. Finally, HC Wainwright reduced their target price on shares of Blink Charging to $2.50 and set a “buy” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blink Charging currently has an average rating of “Hold” and an average price target of $2.50.

Blink Charging Price Performance

NASDAQ BLNK opened at $0.59 on Friday. The business has a 50 day moving average price of $0.60 and a 200 day moving average price of $0.67. The company has a market capitalization of $85.88 million, a P/E ratio of -1.48 and a beta of 2.05. Blink Charging Co. has a 1-year low of $0.45 and a 1-year high of $2.65.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $21.67 million for the quarter, compared to the consensus estimate of $24.25 million. Blink Charging had a negative return on equity of 57.97% and a negative net margin of 52.24%. On average, research analysts expect that Blink Charging Co. will post -0.17 earnings per share for the current fiscal year.

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.