Swedbank AB Raises Stake in Blink Charging Co. (NASDAQ:BLNK)

Swedbank AB grew its position in Blink Charging Co. (NASDAQ:BLNK) by 57.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,516 shares of the company’s stock after purchasing an additional 81,894 shares during the quarter. Swedbank AB owned approximately 0.22% of Blink Charging worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Blink Charging by 224.9% in the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock worth $2,206,000 after buying an additional 557,336 shares during the period. Vanguard Group Inc. grew its position in shares of Blink Charging by 12.6% during the first quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock worth $9,809,000 after purchasing an additional 365,098 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Blink Charging during the 2nd quarter valued at approximately $843,000. Bank of New York Mellon Corp lifted its holdings in Blink Charging by 108.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock worth $1,107,000 after purchasing an additional 210,116 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Blink Charging in the 1st quarter worth approximately $235,000. 44.64% of the stock is owned by hedge funds and other institutional investors.

Blink Charging Price Performance

Shares of BLNK stock opened at $2.11 on Friday. The company has a market cap of $213.24 million, a PE ratio of -0.74 and a beta of 2.66. Blink Charging Co. has a 1 year low of $1.53 and a 1 year high of $4.66. The stock’s 50 day simple moving average is $1.87 and its two-hundred day simple moving average is $2.55.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The company had revenue of $33.26 million for the quarter, compared to analysts’ expectations of $38.90 million. Blink Charging had a negative net margin of 108.11% and a negative return on equity of 22.70%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) EPS. Equities research analysts expect that Blink Charging Co. will post -0.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BLNK. Benchmark began coverage on shares of Blink Charging in a research report on Wednesday, July 31st. They set a “buy” rating and a $5.00 price objective on the stock. UBS Group decreased their price target on shares of Blink Charging from $4.50 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday. B. Riley upgraded Blink Charging to a “hold” rating in a research report on Tuesday, June 25th. HC Wainwright decreased their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Stifel Nicolaus cut their price target on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.79.

Insider Transactions at Blink Charging

In related news, Director Jack Levine bought 20,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was purchased at an average cost of $1.70 per share, with a total value of $34,000.00. Following the completion of the purchase, the director now owns 175,718 shares of the company’s stock, valued at $298,720.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total transaction of $43,338.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack Levine bought 20,000 shares of the stock in a transaction on Thursday, September 26th. The stock was purchased at an average price of $1.70 per share, with a total value of $34,000.00. Following the completion of the acquisition, the director now directly owns 175,718 shares in the company, valued at approximately $298,720.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.50% of the company’s stock.

About Blink Charging

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.