Blink Charging (NASDAQ:BLNK) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Blink Charging (NASDAQ:BLNK) from a hold rating to a sell rating in a report released on Monday.

BLNK has been the topic of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd. HC Wainwright decreased their price objective on shares of Blink Charging to $2.50 and set a “buy” rating for the company in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.50.

Blink Charging Price Performance

Blink Charging stock opened at $0.58 on Monday. The stock’s 50 day moving average is $0.59 and its 200 day moving average is $0.66. The firm has a market cap of $84.37 million, a P/E ratio of -1.46 and a beta of 2.05. Blink Charging has a one year low of $0.45 and a one year high of $2.65.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $21.67 million for the quarter, compared to analysts’ expectations of $24.25 million. Blink Charging had a negative return on equity of 57.97% and a negative net margin of 52.24%. Equities analysts anticipate that Blink Charging will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several large investors have recently added to or reduced their stakes in BLNK. Engineers Gate Manager LP increased its holdings in Blink Charging by 58.8% in the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after purchasing an additional 10,851 shares in the last quarter. State of Wyoming bought a new position in shares of Blink Charging during the 4th quarter worth approximately $29,000. J. Derek Lewis & Associates Inc. bought a new position in shares of Blink Charging during the 4th quarter worth approximately $30,000. Squarepoint Ops LLC acquired a new stake in shares of Blink Charging during the 3rd quarter worth approximately $33,000. Finally, Kestra Advisory Services LLC grew its position in shares of Blink Charging by 60.5% during the 4th quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock worth $34,000 after buying an additional 18,950 shares during the period. Institutional investors and hedge funds 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.