Nuveen LLC Invests $506,000 in Blink Charging Co. $BLNK

Key Points

• Nuveen LLC has acquired a new stake in Blink Charging Co. (NASDAQ: BLNK) by purchasing 551,209 shares valued at approximately $506,000, which constitutes 0.54% of the company's stock.
• Analysts currently maintain a mixed outlook on BLNK, with a consensus rating of "Hold" and an average price target of $2.13, despite varying target price adjustments from firms like Needham and Barclays.
• Blink Charging has reported a quarterly revenue of $28.67 million, exceeding expectations, but posted a loss of ($0.26) earnings per share, which was below analysts' consensus estimate of ($0.17).

Nuveen LLC bought a new stake in shares of Blink Charging Co. (NASDAQ:BLNK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 551,209 shares of the company's stock, valued at approximately $506,000. Nuveen LLC owned about 0.54% of Blink Charging as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE grew its holdings in Blink Charging by 10.0% during the fourth quarter. Bank of America Corp DE now owns 135,663 shares of the company's stock valued at $189,000 after purchasing an additional 12,362 shares during the period. Northern Trust Corp raised its stake in Blink Charging by 1.7% during the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company's stock worth $1,104,000 after buying an additional 13,336 shares during the period. Bank of New York Mellon Corp lifted its holdings in Blink Charging by 6.3% during 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 in the last quarter. Deutsche Bank AG grew its stake in Blink Charging by 23.4% in the fourth quarter. Deutsche Bank AG now owns 98,906 shares of the company's stock valued at $137,000 after acquiring an additional 18,771 shares during the period. Finally, Barclays PLC increased its holdings in shares of Blink Charging by 14.0% in the fourth quarter. Barclays PLC now owns 198,075 shares of the company's stock worth $275,000 after acquiring an additional 24,371 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

Blink Charging Price Performance

NASDAQ:BLNK traded down $0.01 during trading hours on Wednesday, reaching $1.13. 3,589,460 shares of the stock were exchanged, compared to its average volume of 3,136,834. The stock has a market cap of $118.32 million, a PE ratio of -0.54 and a beta of 3.23. Blink Charging Co. has a twelve month low of $0.63 and a twelve month high of $2.32. The firm has a 50 day moving average of $1.01 and a 200 day moving average of $0.91.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $28.67 million during the quarter, compared to the consensus estimate of $22.46 million. Equities research analysts anticipate that Blink Charging Co. will post -0.64 earnings per share for the current year.

Analysts Set New Price Targets

BLNK has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on Blink Charging from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. HC Wainwright reaffirmed 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 report on Tuesday, August 19th. Finally, Barclays dropped their price objective on shares of Blink Charging from $1.50 to $1.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.13.

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.