Blink Charging (NASDAQ:BLNK) Releases Earnings Results

Blink Charging (NASDAQ:BLNK) announced its earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01, Zacks reports. The company had revenue of $27.03 million for the quarter, compared to analyst estimates of $30.08 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%.

Blink Charging Trading Up 5.3%

Shares of NASDAQ:BLNK traded up $0.08 during mid-day trading on Friday, reaching $1.59. The stock had a trading volume of 2,972,818 shares, compared to its average volume of 3,905,753. Blink Charging has a twelve month low of $0.63 and a twelve month high of $2.65. The firm has a market cap of $182.16 million, a PE ratio of -0.76 and a beta of 3.50. The firm has a 50 day simple moving average of $1.65 and a two-hundred day simple moving average of $1.16.

Institutional Trading of Blink Charging

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in Blink Charging by 8,386.8% in the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after acquiring an additional 873,989 shares during the period. Marshall Wace LLP bought a new position in shares of Blink Charging during the 2nd quarter valued at about $119,000. Jump Financial LLC bought a new position in shares of Blink Charging during the 2nd quarter valued at about $60,000. Engineers Gate Manager LP grew its position in shares of Blink Charging by 58.8% in the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after purchasing an additional 10,851 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Blink Charging by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock worth $7,722,000 after buying an additional 282,515 shares during the period. Institutional investors and hedge funds own 44.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays reduced their price objective on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Zacks Research upgraded Blink Charging from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research report on Tuesday, August 19th. Wall Street Zen upgraded shares of Blink Charging from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research note on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Blink Charging has a consensus rating of “Hold” and a consensus price target 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.