Blink Charging (NASDAQ:BLNK) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Blink Charging from “Hold” to “Sell,” while Weiss Ratings maintained a “sell (e+)” rating. Overall analyst sentiment remains “Hold,” with a consensus price target of $5.00.
• Blink shares opened at $0.52, near their 52-week low of $0.45, with a $74.28 million market capitalization. The stock trades below both its 50-day and 200-day moving averages.
• In its latest quarter, Blink reported a loss of $0.06 per share—slightly better than estimates—but revenue of $20.78 million missed expectations, while profitability remained weak with a negative 73.75% net margin.

Blink Charging (NASDAQ:BLNK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Blink Charging in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.00.

Blink Charging Stock Performance

BLNK 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 capitalization of $74.28 million, a PE ratio of -0.77 and a beta of 2.03.

Blink Charging (NASDAQ:BLNK - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%.The firm had revenue of $20.78 million during the quarter, compared to the consensus estimate of $21.70 million. On average, research analysts forecast that Blink Charging will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Blink Charging

Institutional investors have recently bought and sold shares of the business. Sabby Management LLC acquired a new stake in shares of Blink Charging in the fourth quarter valued at approximately $1,418,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Blink Charging during the 4th quarter worth approximately $211,000. Pilgrim Partners Asia Pte Ltd increased its holdings in shares of Blink Charging by 83.3% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 66,000 shares of the company's stock worth $44,000 after acquiring an additional 30,000 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Blink Charging by 46.6% during the 3rd quarter. Two Sigma Investments LP now owns 186,644 shares of the company's stock worth $306,000 after acquiring an additional 59,292 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Blink Charging in the 4th quarter valued at $177,000. Institutional investors and hedge funds 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.

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