Bank of New York Mellon Corp Raises Position in Blink Charging Co. (NASDAQ:BLNK)

Bank of New York Mellon Corp increased its holdings in Blink Charging Co. (NASDAQ:BLNK) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 247,250 shares of the company’s stock after purchasing an additional 14,625 shares during the quarter. Bank of New York Mellon Corp owned 0.24% of Blink Charging worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. raised its position in Blink Charging by 19.4% in the 4th quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock worth $1,373,000 after purchasing an additional 160,251 shares during the period. Northern Trust Corp raised its position in Blink Charging by 1.7% in the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock worth $1,104,000 after purchasing an additional 13,336 shares during the period. Man Group plc purchased a new position in Blink Charging in the 4th quarter worth $626,000. Barclays PLC raised its position in Blink Charging by 14.0% in the 4th quarter. Barclays PLC now owns 198,075 shares of the company’s stock worth $275,000 after purchasing an additional 24,371 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Blink Charging by 29.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 155,833 shares of the company’s stock worth $217,000 after purchasing an additional 35,811 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BLNK shares. Barclays cut their price target on shares of Blink Charging from $1.50 to $1.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a report on Tuesday, May 13th. UBS Group cut their price target on shares of Blink Charging from $1.00 to $0.80 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus cut their price target on shares of Blink Charging from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Tuesday, May 27th. Finally, HC Wainwright cut their price target on shares of Blink Charging from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blink Charging presently has an average rating of “Hold” and an average price target of $2.40.

Blink Charging Trading Down 0.6%

Shares of BLNK opened at $0.95 on Wednesday. The firm’s 50-day moving average price is $0.94 and its 200-day moving average price is $0.93. The firm has a market capitalization of $98.06 million, a price-to-earnings ratio of -0.48 and a beta of 2.96. Blink Charging Co. has a 1-year low of $0.63 and a 1-year high of $2.87.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Monday, May 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The company had revenue of $20.75 million for the quarter, compared to the consensus estimate of $27.60 million. Blink Charging had a negative net margin of 184.37% and a negative return on equity of 39.14%. On average, research analysts forecast that Blink Charging Co. will post -0.64 EPS 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.