Sabby Management LLC Invests $1.42 Million in Blink Charging Co. $BLNK

Sabby Management LLC bought a new stake in Blink Charging Co. (NASDAQ:BLNK) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,125,958 shares of the company’s stock, valued at approximately $1,418,000. Blink Charging makes up about 2.0% of Sabby Management LLC’s portfolio, making the stock its 4th largest holding. Sabby Management LLC owned about 1.86% of Blink Charging at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Blink Charging in the 2nd quarter valued at approximately $119,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Blink Charging during the 4th quarter worth approximately $60,000. Jump Financial LLC acquired a new stake in shares of Blink Charging in the 2nd quarter valued at approximately $60,000. Squarepoint Ops LLC lifted 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 valued at $54,000 after buying an additional 60,208 shares during the period. Finally, Kestra Advisory Services LLC boosted its stake 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 buying an additional 18,950 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen raised Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.00.

Blink Charging Price Performance

Shares of NASDAQ:BLNK opened at $0.67 on Wednesday. The firm has a market capitalization of $96.48 million, a price-to-earnings ratio of -1.00 and a beta of 2.03. The business’s 50 day simple moving average is $0.75 and its 200-day simple moving average is $0.76. Blink Charging Co. has a 12 month low of $0.45 and a 12 month high of $2.65.

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

Blink Charging Profile

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.