Blink Charging (NASDAQ:BLNK) Trading Down 8.3%

Blink Charging Co. (NASDAQ:BLNKGet Rating)’s share price fell 8.3% on Thursday . The company traded as low as $18.68 and last traded at $18.68. 16,497 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,408,455 shares. The stock had previously closed at $20.36.

A number of research firms have recently weighed in on BLNK. Tudor, Pickering, Holt & Co. began coverage on Blink Charging in a research report on Thursday, April 21st. They issued a “hold” rating and a $24.00 price objective for the company. Zacks Investment Research cut Blink Charging from a “hold” rating to a “sell” rating in a research report on Tuesday, March 15th. Needham & Company LLC lowered their price objective on Blink Charging from $41.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, February 22nd. Tudor Pickering began coverage on Blink Charging in a research report on Thursday, April 21st. They issued a “hold” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus lowered their price objective on Blink Charging from $39.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Blink Charging presently has a consensus rating of “Hold” and a consensus target price of $34.63.

The stock has a 50-day simple moving average of $24.25 and a 200 day simple moving average of $27.35.

Blink Charging (NASDAQ:BLNKGet Rating) last released its quarterly earnings data on Thursday, March 10th. The company reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.06). The company had revenue of $7.95 million for the quarter, compared to analysts’ expectations of $6.20 million. Blink Charging had a negative net margin of 263.24% and a negative return on equity of 24.09%. The business’s quarterly revenue was up 224.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) EPS. On average, research analysts predict that Blink Charging Co. will post -1.65 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Blink Charging by 5.0% during the 4th quarter. BlackRock Inc. now owns 2,469,783 shares of the company’s stock valued at $65,475,000 after buying an additional 118,403 shares during the last quarter. State Street Corp increased its stake in shares of Blink Charging by 5.2% in the 4th quarter. State Street Corp now owns 1,228,395 shares of the company’s stock valued at $32,565,000 after purchasing an additional 60,421 shares in the last quarter. Invesco Ltd. increased its stake in shares of Blink Charging by 2.8% in the 3rd quarter. Invesco Ltd. now owns 875,078 shares of the company’s stock valued at $25,036,000 after purchasing an additional 23,830 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Blink Charging by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 640,698 shares of the company’s stock valued at $16,984,000 after purchasing an additional 29,139 shares in the last quarter. Finally, Credit Suisse AG increased its stake in shares of Blink Charging by 130.9% in the 4th quarter. Credit Suisse AG now owns 456,764 shares of the company’s stock valued at $12,109,000 after purchasing an additional 258,986 shares in the last quarter. Institutional investors and hedge funds own 33.35% of the company’s stock.

About Blink Charging (NASDAQ:BLNK)

Blink Charging Co, through its subsidiaries, owns, operates, 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.

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