Raymond James Financial Services Advisors Inc. Cuts Stake in Blink Charging Co. (NASDAQ:BLNK)

Raymond James Financial Services Advisors Inc. lowered its holdings in shares of Blink Charging Co. (NASDAQ:BLNK) by 21.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,446 shares of the company’s stock after selling 6,952 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Blink Charging were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. grew its position in shares of Blink Charging by 35.8% during the third quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock worth $6,601,000 after purchasing an additional 568,417 shares in the last quarter. Stifel Financial Corp grew its position in shares of Blink Charging by 39.0% during the third quarter. Stifel Financial Corp now owns 890,505 shares of the company’s stock worth $2,725,000 after purchasing an additional 249,810 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Blink Charging by 5.4% during the third quarter. Alps Advisors Inc. now owns 238,758 shares of the company’s stock worth $731,000 after purchasing an additional 12,191 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Blink Charging by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 213,144 shares of the company’s stock worth $652,000 after purchasing an additional 12,022 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Blink Charging by 12.0% during the third quarter. Swiss National Bank now owns 123,000 shares of the company’s stock worth $376,000 after purchasing an additional 13,200 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BLNK shares. DA Davidson reissued a “neutral” rating and set a $5.00 price target on shares of Blink Charging in a research note on Friday, March 15th. HC Wainwright dropped their price target on Blink Charging from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Roth Mkm dropped their price target on Blink Charging from $25.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Blink Charging in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Blink Charging presently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Blink Charging Price Performance

NASDAQ:BLNK opened at $2.31 on Friday. The firm has a market capitalization of $233.30 million, a price-to-earnings ratio of -0.72 and a beta of 2.77. Blink Charging Co. has a 1 year low of $2.18 and a 1 year high of $7.70. The business has a 50 day simple moving average of $2.82 and a 200-day simple moving average of $2.92.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.12. The business had revenue of $42.71 million during the quarter, compared to analyst estimates of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. As a group, analysts expect that Blink Charging Co. will post -0.84 earnings per share for the current fiscal year.

Blink Charging Profile

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.