Short Interest in Blink Charging Co. (NASDAQ:BLNK) Declines By 5.2%

Blink Charging Co. (NASDAQ:BLNKGet Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 19,470,000 shares, a drop of 5.2% from the April 30th total of 20,540,000 shares. Based on an average daily trading volume, of 6,130,000 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Investors Weigh In On Blink Charging

Hedge funds have recently made changes to their positions in the business. Pathstone Family Office LLC bought a new stake in shares of Blink Charging during the 3rd quarter worth $32,000. Stratos Wealth Partners LTD. bought a new stake in shares of Blink Charging during the 4th quarter worth $37,000. PNC Financial Services Group Inc. raised its stake in shares of Blink Charging by 112.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock worth $33,000 after purchasing an additional 5,761 shares during the period. Teza Capital Management LLC bought a new stake in shares of Blink Charging during the 3rd quarter worth $34,000. Finally, Private Advisor Group LLC bought a new stake in shares of Blink Charging during the 4th quarter worth $42,000. 44.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Blink Charging in a research report on Friday, March 15th. HC Wainwright reduced their price target on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Needham & Company LLC reduced their price target on shares of Blink Charging from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 10th. UBS Group reduced their price target on shares of Blink Charging from $7.00 to $4.50 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $4.00 price target on shares of Blink Charging in a research report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Check Out Our Latest Analysis on Blink Charging

Blink Charging Trading Down 1.9 %

Shares of NASDAQ:BLNK opened at $3.11 on Monday. The stock’s fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $2.95. Blink Charging has a 1-year low of $2.18 and a 1-year high of $7.26. The stock has a market cap of $314.08 million, a PE ratio of -1.09 and a beta of 2.82.

Blink Charging (NASDAQ:BLNKGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.10. Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. The business had revenue of $37.57 million for the quarter, compared to analysts’ expectations of $33.74 million. On average, sell-side analysts forecast that Blink Charging will post -0.56 earnings per share for the current fiscal year.

Blink Charging Company Profile

(Get Free Report)

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.

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