Blink Charging (NASDAQ:BLNK) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Shares of Blink Charging Co. (NASDAQ:BLNK) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $0.50 and traded as high as $0.5427. Blink Charging shares last traded at $0.5136, with a volume of 7,659,329 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. HC Wainwright lowered their price target on shares of Blink Charging to $2.50 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings lowered shares of Blink Charging from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 28th. Wall Street Zen cut shares of Blink Charging from a “hold” rating to a “sell” rating in a research note on Monday, August 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Blink Charging in a research note on Friday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.50.

Blink Charging Stock Performance

The company has a market cap of $74.57 million, a P/E ratio of -1.14 and a beta of 2.08. The stock has a 50-day moving average of $0.50 and a two-hundred day moving average of $0.62.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $21.28 million. Blink Charging had a negative net margin of 64.89% and a negative return on equity of 52.90%. As a group, sell-side analysts forecast that Blink Charging Co. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Blink Charging in the 2nd quarter worth $927,000. General Motors Holdings LLC boosted its position in Blink Charging by 14.9% during the third quarter. General Motors Holdings LLC now owns 874,468 shares of the company’s stock valued at $472,000 after buying an additional 113,291 shares during the period. StoneX Group Inc. boosted its position in Blink Charging by 221.8% during the third quarter. StoneX Group Inc. now owns 93,874 shares of the company’s stock valued at $50,000 after buying an additional 64,704 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Blink Charging during the second quarter valued at about $47,000. Finally, GSA Capital Partners LLP bought a new position in shares of Blink Charging during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

About Blink Charging

Blink Charging Co is an electric vehicle (EV) charging company that develops, manufactures, sells and operates charging equipment and related services. The company serves commercial, residential, fleet and public-sector customers seeking to install and manage EV charging infrastructure.

Blink’s product portfolio includes Level 2 AC charging stations and DC fast-charging equipment, along with associated hardware, installation services and cloud-based software. Through the Blink Network, charging-station owners and users can access tools for station management, payment processing, usage monitoring and locating available chargers.