Blink Charging (NASDAQ:BLNK) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Blink Charging (NASDAQ:BLNK) from a hold rating to a sell rating in a research report released on Monday morning.

Several other analysts also recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd. HC Wainwright dropped their target price on shares of Blink Charging to $2.50 and set a “buy” rating on the stock in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.50.

Blink Charging Stock Performance

Shares of NASDAQ BLNK opened at $0.57 on Monday. The stock’s 50-day simple moving average is $0.59 and its 200-day simple moving average is $0.66. The firm has a market capitalization of $83.18 million, a PE ratio of -1.43 and a beta of 2.05. Blink Charging has a fifty-two week low of $0.45 and a fifty-two week high of $2.65.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $21.67 million during the quarter, compared to the consensus estimate of $24.25 million. Blink Charging had a negative return on equity of 57.97% and a negative net margin of 52.24%. On average, sell-side analysts forecast that Blink Charging will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sabby Management LLC acquired a new position in Blink Charging during the fourth quarter worth approximately $1,418,000. AQR Capital Management LLC boosted its holdings in shares of 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. Geode Capital Management LLC boosted its holdings in shares of Blink Charging by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 1,372,284 shares of the company’s stock valued at $916,000 after acquiring an additional 103,755 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Blink Charging by 227.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock valued at $1,703,000 after acquiring an additional 1,773,109 shares during the period. Finally, UBS Group AG grew its position in shares of Blink Charging by 67.9% during the third quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock worth $3,878,000 after acquiring an additional 956,556 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Company Profile

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.