Blink Charging Co. (NASDAQ:BLNK) Short Interest Update

Blink Charging Co. (NASDAQ:BLNK) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 25,310,000 shares, a drop of 9.9% from the August 31st total of 28,090,000 shares. Based on an average daily volume of 4,710,000 shares, the short-interest ratio is presently 5.4 days.

Insider Activity at Blink Charging

In other news, Director Kristina A. Peterson sold 24,077 shares of Blink Charging stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $1.80, for a total value of $43,338.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Kristina A. Peterson sold 24,077 shares of Blink Charging stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jack Levine purchased 20,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were 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 $298,720.60. The disclosure for this purchase can be found here. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Blink Charging

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in Blink Charging by 224.9% during the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after acquiring an additional 557,336 shares during the last quarter. Quadrature Capital Ltd grew its position in Blink Charging by 861.1% during the fourth quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock valued at $1,558,000 after buying an additional 411,763 shares during the period. Vanguard Group Inc. increased its holdings in Blink Charging by 12.6% during the first quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock valued at $9,809,000 after buying an additional 365,098 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Blink Charging during the 2nd quarter valued at $843,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Blink Charging by 108.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock valued at $1,107,000 after buying an additional 210,116 shares in the last quarter. 44.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BLNK. Benchmark initiated coverage on Blink Charging in a report on Wednesday, July 31st. They set a “buy” rating and a $5.00 price target on the stock. B. Riley upgraded shares of Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Stifel Nicolaus cut their target price on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. HC Wainwright reduced their price objective on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC reduced their price target on Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.00.

Blink Charging Stock Performance

Shares of BLNK stock traded up $0.04 during mid-day trading on Tuesday, hitting $1.76. The company’s stock had a trading volume of 335,790 shares, compared to its average volume of 5,769,798. Blink Charging has a 52-week low of $1.53 and a 52-week high of $4.66. The stock has a market cap of $177.50 million, a price-to-earnings ratio of -0.60 and a beta of 2.66. The business has a 50-day moving average price of $2.15 and a 200 day moving average price of $2.63.

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

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.