Blink Charging (NASDAQ:BLNK) Trading Down 5.4% – Time to Sell?

Blink Charging Co. (NASDAQ:BLNK) dropped 5.4% during trading on Tuesday . The stock traded as low as $0.8350 and last traded at $0.8387. Approximately 3,785,866 shares traded hands during trading, a decline of 1% from the average daily volume of 3,836,874 shares. The stock had previously closed at $0.8870.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BLNK shares. Zacks Research raised shares of Blink Charging from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blink Charging in a research note on Friday, January 9th. Finally, Wall Street Zen raised shares of Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.13.

Blink Charging Stock Down 5.4%

The business’s 50-day moving average price is $1.00 and its 200 day moving average price is $1.24. The company has a market capitalization of $96.11 million, a P/E ratio of -0.68 and a beta of 1.78.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Blink Charging had a negative net margin of 118.41% and a negative return on equity of 74.28%. The business had revenue of $27.03 million for the quarter, compared to analysts’ expectations of $30.08 million. Analysts anticipate that Blink Charging Co. will post -0.64 EPS for the current fiscal year.

Insider Activity

In other Blink Charging news, CFO Michael Bercovich acquired 65,333 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average price of $0.77 per share, with a total value of $50,306.41. Following the completion of the purchase, the chief financial officer owned 188,563 shares of the company’s stock, valued at approximately $145,193.51. This represents a 53.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. UBS Group AG grew its stake in shares of Blink Charging by 67.9% during the third quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock valued at $3,878,000 after buying an additional 956,556 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Blink Charging by 8,386.8% during the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after acquiring an additional 873,989 shares during the period. General Motors Holdings LLC bought a new position in Blink Charging during the 3rd quarter worth approximately $1,248,000. XTX Topco Ltd purchased a new position in Blink Charging in the 2nd quarter worth approximately $384,000. Finally, Vanguard Group Inc. lifted its position in Blink Charging by 6.4% in the third quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock valued at $7,722,000 after purchasing an additional 282,515 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

About Blink Charging

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.