Swedbank AB Purchases 64,426 Shares of Blink Charging Co. $BLNK

Swedbank AB raised its position in shares of Blink Charging Co. (NASDAQ:BLNK) by 19.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 391,978 shares of the company’s stock after purchasing an additional 64,426 shares during the period. Swedbank AB owned about 0.38% of Blink Charging worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its position 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 in the last quarter. Northern Trust Corp raised its position 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 in the last quarter. Bank of New York Mellon Corp raised its position in shares of Blink Charging by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 247,250 shares of the company’s stock worth $227,000 after acquiring an additional 14,625 shares in the last quarter. Deutsche Bank AG raised its position in shares of Blink Charging by 23.4% in the 4th quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock worth $137,000 after acquiring an additional 18,771 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Blink Charging in the 4th quarter worth $43,000. 44.64% of the stock is owned by institutional investors.

Blink Charging Stock Performance

Blink Charging stock opened at $1.35 on Wednesday. Blink Charging Co. has a fifty-two week low of $0.63 and a fifty-two week high of $2.32. The company has a market cap of $141.36 million, a PE ratio of -0.64 and a beta of 3.23. The business’s 50-day simple moving average is $1.04 and its two-hundred day simple moving average is $0.91.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Monday, August 18th. The company reported ($0.26) 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 analysts’ expectations of $22.46 million. As a group, analysts predict that Blink Charging Co. will post -0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

BLNK has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a research report on Tuesday, August 19th. Stifel Nicolaus reduced their price target on Blink Charging from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research report on Tuesday, August 19th. Finally, Barclays reduced their price target on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Blink Charging presently has an average rating of “Hold” and an average price target of $2.13.

About Blink Charging

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.