Charles Schwab Investment Management Inc. Sells 22,476 Shares of Blink Charging Co. $BLNK

Charles Schwab Investment Management Inc. lessened its stake in shares of Blink Charging Co. (NASDAQ:BLNK) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 913,390 shares of the company’s stock after selling 22,476 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.89% of Blink Charging worth $838,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BLNK. Bank of America Corp DE boosted its stake in Blink Charging by 10.0% during the 4th quarter. Bank of America Corp DE now owns 135,663 shares of the company’s stock valued at $189,000 after purchasing an additional 12,362 shares during the period. Northern Trust Corp boosted its stake in Blink Charging by 1.7% during the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock valued at $1,104,000 after purchasing an additional 13,336 shares during the period. Bank of New York Mellon Corp boosted its stake in Blink Charging by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 247,250 shares of the company’s stock valued at $227,000 after purchasing an additional 14,625 shares during the period. Deutsche Bank AG boosted its stake in Blink Charging by 23.4% during the 4th quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock valued at $137,000 after purchasing an additional 18,771 shares during the period. Finally, Barclays PLC boosted its stake in Blink Charging by 14.0% during the 4th quarter. Barclays PLC now owns 198,075 shares of the company’s stock valued at $275,000 after purchasing an additional 24,371 shares during the period. Institutional investors own 44.64% of the company’s stock.

Blink Charging Trading Down 6.8%

Shares of BLNK opened at $1.10 on Wednesday. Blink Charging Co. has a 1 year low of $0.63 and a 1 year high of $2.32. The stock has a 50 day simple moving average of $0.99 and a 200-day simple moving average of $0.90. The stock has a market cap of $115.18 million, a PE ratio of -0.52 and a beta of 3.23.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Monday, August 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). Blink Charging had a negative return on equity of 63.06% and a negative net margin of 203.81%.The company had revenue of $28.67 million during the quarter, compared to analyst estimates of $22.46 million. On average, sell-side analysts forecast that Blink Charging Co. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays decreased their target price on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 23rd. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Blink Charging in a research note on Tuesday, August 19th. Stifel Nicolaus decreased their target price on Blink Charging from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research note on Tuesday, August 19th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.13.

Blink Charging Company 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.