Geode Capital Management LLC Sells 25,451 Shares of Blink Charging Co. (NASDAQ:BLNK)

Geode Capital Management LLC cut its stake in Blink Charging Co. (NASDAQ:BLNK) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,289,107 shares of the company’s stock after selling 25,451 shares during the quarter. Geode Capital Management LLC owned approximately 2.26% of Blink Charging worth $3,182,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BLNK. Barclays PLC grew its stake in shares of Blink Charging by 238.4% in the third quarter. Barclays PLC now owns 173,704 shares of the company’s stock valued at $299,000 after acquiring an additional 122,367 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Blink Charging by 14.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company’s stock valued at $1,301,000 after acquiring an additional 116,758 shares in the last quarter. Swedbank AB grew its stake in shares of Blink Charging by 45.2% in the fourth quarter. Swedbank AB now owns 327,552 shares of the company’s stock valued at $455,000 after acquiring an additional 102,036 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Blink Charging by 30.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 291,675 shares of the company’s stock worth $405,000 after buying an additional 68,027 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Blink Charging during the third quarter worth about $96,000. 44.64% of the stock is owned by institutional investors.

Blink Charging Price Performance

Shares of NASDAQ BLNK opened at $0.76 on Tuesday. Blink Charging Co. has a 1 year low of $0.63 and a 1 year high of $3.75. The firm has a market cap of $78.24 million, a PE ratio of -0.50 and a beta of 2.94. The company has a 50 day simple moving average of $0.89 and a 200 day simple moving average of $1.34.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. During the same quarter in the previous year, the business earned ($0.28) earnings per share. Blink Charging’s revenue was down 29.3% compared to the same quarter last year. As a group, research analysts anticipate that Blink Charging Co. will post -0.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on BLNK. Roth Mkm reiterated a “buy” rating and set a $3.00 price objective (down from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research note on Friday, March 14th. UBS Group reduced their price objective on shares of Blink Charging from $1.00 to $0.80 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Barclays reduced their price objective on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a research note on Friday, March 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Blink Charging presently has an average rating of “Hold” and an average target price of $3.04.

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.