Blink Charging (NASDAQ:BLNK) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Blink Charging (NASDAQ:BLNK) from a sell rating to a hold rating in a research note published on Saturday morning.

Blink Charging Trading Down 5.0%

BLNK opened at $0.83 on Friday. The stock has a 50-day moving average price of $0.68 and a 200-day moving average price of $0.88. Blink Charging has a 12-month low of $0.45 and a 12-month high of $2.65. The stock has a market capitalization of $119.46 million, a P/E ratio of -1.24 and a beta of 1.99.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%.The firm had revenue of $20.78 million during the quarter, compared to analysts’ expectations of $21.70 million. On average, equities research analysts predict that Blink Charging will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Blink Charging in the 1st quarter worth about $34,000. J. Derek Lewis & Associates Inc. purchased a new position in shares of Blink Charging in the 4th quarter worth about $30,000. Virtu Financial LLC purchased a new position in shares of Blink Charging in the 4th quarter worth about $141,000. Sabby Management LLC purchased a new position in shares of Blink Charging in the 4th quarter worth about $1,418,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Blink Charging by 296.8% in the 4th quarter. Squarepoint Ops LLC now owns 80,492 shares of the company’s stock worth $54,000 after purchasing an additional 60,208 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other 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.