Blink Charging (NASDAQ:BLNK) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Blink Charging (NASDAQ:BLNK) issued its earnings results on Monday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, FiscalAI reports. Blink Charging had a negative net margin of 82.60% and a negative return on equity of 84.25%. The firm had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $21.70 million.

Blink Charging Stock Up 13.1%

Blink Charging stock traded up $0.11 during mid-day trading on Monday, hitting $0.96. 8,329,090 shares of the company’s stock traded hands, compared to its average volume of 2,580,386. Blink Charging has a one year low of $0.45 and a one year high of $2.65. The firm has a 50 day moving average price of $0.66 and a 200 day moving average price of $0.91. The company has a market cap of $137.35 million, a PE ratio of -1.21 and a beta of 1.99.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Blink Charging from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.33.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently modified their holdings of BLNK. Engineers Gate Manager LP grew its position in Blink Charging by 58.8% in the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after buying an additional 10,851 shares in the last quarter. State of Wyoming bought a new stake in shares of Blink Charging during the 4th quarter worth about $29,000. Squarepoint Ops LLC acquired a new stake in shares of Blink Charging in the 3rd quarter worth approximately $33,000. Kestra Advisory Services LLC boosted its holdings in shares of Blink Charging by 60.5% in the fourth quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock valued at $34,000 after acquiring an additional 18,950 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Blink Charging in the fourth quarter valued at approximately $60,000. 44.64% of the stock is currently owned by institutional investors.

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.