Blink Charging (NASDAQ:BLNK) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

Shares of Blink Charging Co. (NASDAQ:BLNK) crossed 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 changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLNK. Wall Street Zen downgraded Blink Charging from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. HC Wainwright decreased their price objective on Blink Charging to $2.50 and set a “buy” rating for the company in a report on Friday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research note on Friday. Finally, Weiss Ratings downgraded shares of Blink Charging from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 28th. One equities 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 stock. According to MarketBeat.com, Blink Charging presently has an average rating of “Hold” and an average price target of $2.50.

Blink Charging Stock Performance

The firm has a market capitalization of $74.57 million, a PE ratio of -1.14 and a beta of 2.08. The business’s fifty day simple moving average is $0.50 and its 200-day simple moving average is $0.62.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $18.40 million during the quarter, compared to the consensus estimate of $21.28 million. Blink Charging had a negative return on equity of 57.97% and a negative net margin of 52.24%. Sell-side analysts expect that Blink Charging Co. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in Blink Charging in the 2nd quarter worth $36,000. R Squared Ltd purchased a new position in shares of Blink Charging in the 1st quarter valued at $34,000. GSA Capital Partners LLP acquired a new position in shares of Blink Charging in the second quarter valued at approximately $42,000. Canada Pension Plan Investment Board bought a new position in Blink Charging during the 2nd quarter worth approximately $47,000. Finally, StoneX Group Inc. boosted its stake 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 worth $50,000 after acquiring an additional 64,704 shares in the last quarter. 44.64% of the stock is currently 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.