Blink Charging (NASDAQ:BLNK) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Blink Charging from “Hold” to “Sell,” while the broader analyst consensus remains “Hold” with a $2.50 target price.
• Blink reported a quarterly loss of $0.04 per share, beating estimates, but revenue of $21.67 million fell short of the $24.25 million consensus forecast; analysts expect a full-year loss of $0.17 per share.
• Shares opened at $0.59, near their 12-month low of $0.45, with a market capitalization of $85.88 million. Institutional investors own 44.64% of the company.

Blink Charging (NASDAQ:BLNK - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Monday.

A number of other research firms also recently weighed in on BLNK. HC Wainwright decreased 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. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Blink Charging in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Blink Charging presently has an average rating of "Hold" and a consensus target price of $2.50.

Blink Charging Price Performance

Blink Charging stock opened at $0.59 on Monday. The business has a 50 day moving average price of $0.60 and a two-hundred day moving average price of $0.67. The stock has a market cap of $85.88 million, a price-to-earnings ratio of -1.48 and a beta of 2.05. Blink Charging has a 12 month low of $0.45 and a 12 month high of $2.65.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $21.67 million for the quarter, compared to analyst estimates 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, analysts expect that Blink Charging will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Hedge funds have recently added to or reduced their stakes in the stock. Sabby Management LLC bought a new position in shares of Blink Charging in the fourth quarter worth about $1,418,000. Geode Capital Management LLC increased its holdings in shares of Blink Charging by 8.2% in the fourth 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 in the last quarter. UBS Group AG raised its position in Blink Charging by 67.9% in the 3rd quarter. UBS Group AG now owns 2,364,562 shares of the company's stock worth $3,878,000 after purchasing an additional 956,556 shares during the last quarter. State Street Corp lifted its holdings in Blink Charging by 1,256.4% during the 4th quarter. State Street Corp now owns 6,667,077 shares of the company's stock worth $4,447,000 after buying an additional 6,175,566 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Blink Charging by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company's stock valued at $7,722,000 after buying an additional 282,515 shares during the last quarter. Institutional investors own 44.64% of the company's stock.

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.

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