Blink Charging (NASDAQ:BLNK) Share Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• Blink Charging shares rose 25.9% and moved above their 50-day moving average of $0.50, reaching a high of $0.5427 before last trading at $0.5136. The stock remained below its 200-day average of $0.62.
• The company reported quarterly EPS of -$0.02, better than the -$0.05 consensus estimate, but revenue of $18.4 million fell short of analysts’ $21.28 million forecast. Blink continued to post substantial losses.
• Analyst views are mixed, with one Buy, one Hold, and one Sell rating; MarketBeat reports an overall Hold consensus and an average price target of $2.50.

Blink Charging Co. (NASDAQ:BLNK - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $0.50 and traded as high as $0.5427. Blink Charging shares last traded at $0.5136, with a volume of 7,659,329 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BLNK shares. HC Wainwright cut their target price on shares of Blink Charging to $2.50 and set a "buy" rating on the stock in a report on Friday, August 7th. Wall Street Zen cut shares of Blink Charging from a "hold" rating to a "sell" rating in a research report on Monday, August 17th. Weiss Ratings lowered shares of Blink Charging from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, October 28th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Blink Charging in a research report on Friday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $2.50.

Blink Charging Stock Up 25.9%

The firm's 50-day moving average is $0.50 and its 200-day moving average is $0.62. The company has a market cap of $74.57 million, a PE ratio of -1.14 and a beta of 2.08.

Blink Charging (NASDAQ:BLNK - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Blink Charging had a negative net margin of 52.24% and a negative return on equity of 57.97%. The company had revenue of $18.40 million during the quarter, compared to analyst estimates of $21.28 million. As a group, equities research analysts anticipate that Blink Charging Co. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BLNK. FNY Investment Advisers LLC purchased a new stake in Blink Charging in the second quarter valued at approximately $36,000. R Squared Ltd acquired a new position in shares of Blink Charging in the first quarter valued at approximately $34,000. StoneX Group Inc. grew its holdings in shares of Blink Charging by 221.8% during the 3rd quarter. StoneX Group Inc. now owns 93,874 shares of the company's stock valued at $50,000 after purchasing an additional 64,704 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Blink Charging in the second quarter valued at approximately $42,000. Finally, Canada Pension Plan Investment Board bought a new position in Blink Charging in the second quarter worth about $47,000. 44.64% of the stock is owned by institutional investors.

About Blink Charging

Blink Charging Co is an electric vehicle (EV) charging company that develops, manufactures, sells and operates charging equipment and related services. The company serves commercial, residential, fleet and public-sector customers seeking to install and manage EV charging infrastructure.

Blink's product portfolio includes Level 2 AC charging stations and DC fast-charging equipment, along with associated hardware, installation services and cloud-based software. Through the Blink Network, charging-station owners and users can access tools for station management, payment processing, usage monitoring and locating available chargers.

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