Man Group plc Invests $626,000 in Blink Charging Co. (NASDAQ:BLNK)

Man Group plc purchased a new position in shares of Blink Charging Co. (NASDAQ:BLNK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 450,578 shares of the company's stock, valued at approximately $626,000. Man Group plc owned approximately 0.45% of Blink Charging as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of BLNK. Millennium Management LLC acquired a new stake in Blink Charging during the 4th quarter worth $43,000. Deutsche Bank AG boosted its position in Blink Charging by 23.4% during the fourth quarter. Deutsche Bank AG now owns 98,906 shares of the company's stock worth $137,000 after acquiring an additional 18,771 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Blink Charging during the 4th quarter valued at about $57,000. Caption Management LLC acquired a new stake in Blink Charging in the 4th quarter valued at about $180,000. Finally, Bank of America Corp DE lifted its stake in Blink Charging by 10.0% in the 4th quarter. Bank of America Corp DE now owns 135,663 shares of the company's stock worth $189,000 after purchasing an additional 12,362 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Blink Charging Stock Performance

BLNK stock traded down $0.02 during mid-day trading on Friday, reaching $0.72. The company had a trading volume of 396,025 shares, compared to its average volume of 4,369,803. The firm has a fifty day simple moving average of $0.77 and a 200 day simple moving average of $1.14. The company has a market capitalization of $74.26 million, a price-to-earnings ratio of -0.48 and a beta of 3.34. Blink Charging Co. has a fifty-two week low of $0.63 and a fifty-two week high of $3.75.

Blink Charging (NASDAQ:BLNK - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.04). Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $27.60 million. As a group, analysts predict that Blink Charging Co. will post -0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

BLNK has been the topic of a number of analyst reports. Roth Mkm reiterated a "buy" rating and set a $3.00 price objective (down previously from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Barclays lowered their price objective on Blink Charging from $3.00 to $1.50 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Stifel Nicolaus decreased their price target on Blink Charging from $2.00 to $1.00 and set a "hold" rating on the stock in a research note on Tuesday. Needham & Company LLC reissued a "hold" rating on shares of Blink Charging in a research report on Tuesday, May 13th. Finally, Benchmark decreased their target price on shares of Blink Charging from $5.00 to $2.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.47.

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.