Blink Charging (NASDAQ:BLNK) Stock Rating Lowered by Wall Street Zen

Blink Charging (NASDAQ:BLNK) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Blink Charging in a research note on Friday, May 22nd. HC Wainwright reduced their price target on shares of Blink Charging to $2.50 and set a “buy” rating on the stock in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.50.

Blink Charging Stock Performance

Shares of NASDAQ BLNK opened at $0.56 on Monday. Blink Charging has a fifty-two week low of $0.45 and a fifty-two week high of $2.65. The company has a market cap of $81.18 million, a price-to-earnings ratio of -1.40 and a beta of 2.05. The business’s 50 day moving average price is $0.59 and its 200-day moving average price is $0.66.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $21.67 million during the quarter, compared to analysts’ expectations of $24.25 million. Blink Charging had a negative return on equity of 57.97% and a negative net margin of 52.24%. Sell-side analysts predict that Blink Charging will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Blink Charging

Institutional investors and hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP grew its position in shares of Blink Charging by 58.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after buying an additional 10,851 shares in the last quarter. State of Wyoming bought a new stake in shares of Blink Charging in the fourth quarter valued at about $29,000. J. Derek Lewis & Associates Inc. bought a new stake in shares of Blink Charging in the fourth quarter valued at about $30,000. Squarepoint Ops LLC bought a new stake in shares of Blink Charging in the third quarter valued at about $33,000. Finally, Kestra Advisory Services LLC lifted its stake in Blink Charging by 60.5% in the fourth quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock worth $34,000 after acquiring an additional 18,950 shares during the period. 44.64% of the stock is owned by institutional investors.

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.