Blink Charging (NASDAQ:BLNK) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Blink Charging received a "Sell (D-)" rating from Weiss Ratings, signaling analysts' concerns regarding the company's financial performance.
• Despite the negative outlook, shares of Blink Charging traded up 4.3%, reaching $2.33, with a market capitalization of $243.45 million.
• In its latest earnings report, Blink Charging reported a loss of ($0.26) EPS, missing analysts’ expectations and highlighting a negative net margin of 203.81% for the quarter.

Blink Charging (NASDAQ:BLNK - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on BLNK. HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of Blink Charging in a report on Tuesday, August 19th. Barclays decreased their price target on Blink Charging from $1.50 to $1.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Blink Charging in a report on Tuesday, August 19th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $2.13.

Blink Charging Stock Up 4.3%

Shares of Blink Charging stock traded up $0.10 on Tuesday, reaching $2.33. 3,010,148 shares of the stock were exchanged, compared to its average volume of 3,927,169. Blink Charging has a twelve month low of $0.63 and a twelve month high of $2.65. The firm has a market capitalization of $243.45 million, a price-to-earnings ratio of -1.10 and a beta of 3.54. The business has a 50 day moving average price of $1.35 and a two-hundred day moving average price of $1.03.

Blink Charging (NASDAQ:BLNK - Get Free Report) last released its earnings results on Monday, August 18th. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.09). Blink Charging had a negative return on equity of 63.06% and a negative net margin of 203.81%.The firm had revenue of $28.67 million for the quarter, compared to analyst estimates of $22.46 million. Research analysts forecast that Blink Charging will post -0.64 EPS for the current year.

Institutional Trading of Blink Charging

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP increased its position 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 in the last quarter. Cerity Partners LLC purchased a new stake in shares of Blink Charging during the first quarter worth approximately $30,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Blink Charging during the first quarter worth approximately $30,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Blink Charging during the first quarter worth approximately $35,000. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in shares of Blink Charging during the second quarter worth approximately $42,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Blink Charging Company Profile

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.

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