Blink Charging (NASDAQ:BLNK) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• Blink Charging reported a quarterly earnings loss of ($0.26) EPS, missing the expected consensus estimate by ($0.10).
• The company's stock experienced a slight increase, closing at $1.03 amid higher trading volume compared to its average.
• Investment analysts have mixed views on the stock, with multiple price target reductions, reflecting a consensus rating of "Hold" and an average target price of $2.13.

Blink Charging (NASDAQ:BLNK - Get Free Report) announced its earnings results on Monday. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09), Zacks reports. The firm had revenue of $28.67 million during the quarter, compared to analyst estimates of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%.

Blink Charging Stock Performance

Shares of Blink Charging stock traded up $0.0640 during trading on Friday, hitting $0.9740. 1,323,087 shares of the company's stock were exchanged, compared to its average volume of 3,542,616. The business has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $0.91. Blink Charging has a 52-week low of $0.63 and a 52-week high of $2.32. The stock has a market capitalization of $101.99 million, a price-to-earnings ratio of -0.46 and a beta of 2.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP raised its holdings in shares of Blink Charging by 58.8% during the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company's stock worth $28,000 after purchasing an additional 10,851 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Blink Charging during the second quarter worth $60,000. Marshall Wace LLP purchased a new position in shares of Blink Charging during the second quarter worth $119,000. Finally, AQR Capital Management LLC raised its holdings in shares of Blink Charging by 8,386.8% during the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company's stock worth $812,000 after purchasing an additional 873,989 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $5.00 target price on shares of Blink Charging in a research note on Tuesday. Needham & Company LLC reiterated a "hold" rating on shares of Blink Charging in a research note on Tuesday. Stifel Nicolaus lowered their price objective on shares of Blink Charging from $2.00 to $1.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. Finally, Barclays lowered their price objective on shares of Blink Charging from $1.50 to $1.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $2.13.

About Blink Charging

Blink Charging Co, through its subsidiaries, owns, operates, manufactures, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and internationally. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types.