Goldman Sachs Group Inc. Decreases Stake in Blink Charging Co. $BLNK

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Blink Charging Co. by 25.5%, now holding 605,045 shares valued at approximately $555,000.
• Despite recent fluctuations, Blink Charging reported a revenue of $28.67 million for the quarter, exceeding analyst estimates of $22.46 million.
• Wall Street analysts have varying views on the stock, with three rating it as a Buy and four as a Hold, while the consensus target price is $2.13.

Goldman Sachs Group Inc. lowered its position in Blink Charging Co. (NASDAQ:BLNK - Free Report) by 25.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 605,045 shares of the company's stock after selling 206,944 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.59% of Blink Charging worth $555,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Blink Charging in the first quarter worth approximately $30,000. Invesco Ltd. lifted its stake in Blink Charging by 20.1% in the first quarter. Invesco Ltd. now owns 1,185,794 shares of the company's stock worth $1,088,000 after acquiring an additional 198,350 shares during the last quarter. Millennium Management LLC purchased a new position in Blink Charging in the fourth quarter worth approximately $43,000. Bank of New York Mellon Corp lifted its stake in Blink Charging by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 247,250 shares of the company's stock worth $227,000 after acquiring an additional 14,625 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Blink Charging in the first quarter worth approximately $506,000. Hedge funds and other institutional investors own 44.64% of the company's stock.

Blink Charging Price Performance

Shares of Blink Charging stock opened at $1.53 on Friday. The firm's fifty day simple moving average is $1.12 and its 200-day simple moving average is $0.94. The stock has a market capitalization of $160.21 million, a price-to-earnings ratio of -0.73 and a beta of 3.23. Blink Charging Co. has a 12 month low of $0.63 and a 12 month high of $2.32.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced 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). The business 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%. Analysts anticipate that Blink Charging Co. will post -0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BLNK has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and issued a $5.00 price target on shares of Blink Charging in a research note on Tuesday, August 19th. Needham & Company LLC reiterated a "hold" rating on shares of Blink Charging in a research note on Tuesday, August 19th. Finally, Barclays reduced 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 report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $2.13.

Blink Charging 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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