Blink Charging Co. (NASDAQ:BLNK) Sees Large Drop in Short Interest

Blink Charging Co. (NASDAQ:BLNK) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 25,310,000 shares, a drop of 9.9% from the August 31st total of 28,090,000 shares. Based on an average daily volume of 4,710,000 shares, the days-to-cover ratio is presently 5.4 days.

Insider Activity at Blink Charging

In other news, Director Kristina A. Peterson sold 24,077 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jack Levine acquired 20,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $1.70 per share, with a total value of $34,000.00. Following the acquisition, the director now directly owns 175,718 shares of the company’s stock, valued at $298,720.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kristina A. Peterson sold 24,077 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total transaction of $43,338.60. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blink Charging

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC bought a new stake in shares of Blink Charging during the 4th quarter worth $85,000. KBC Group NV lifted its stake in Blink Charging by 173.4% during the fourth quarter. KBC Group NV now owns 224,472 shares of the company’s stock worth $761,000 after purchasing an additional 142,366 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Blink Charging by 861.1% in the 4th quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after purchasing an additional 411,763 shares in the last quarter. Virtu Financial LLC boosted its holdings in shares of Blink Charging by 618.0% in the 4th quarter. Virtu Financial LLC now owns 182,283 shares of the company’s stock worth $618,000 after purchasing an additional 156,896 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its position in shares of Blink Charging by 24.8% during the 1st quarter. Arkadios Wealth Advisors now owns 42,667 shares of the company’s stock valued at $128,000 after purchasing an additional 8,472 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Trading Up 2.1 %

Shares of BLNK traded up $0.04 during mid-day trading on Tuesday, reaching $1.76. 335,790 shares of the stock traded hands, compared to its average volume of 5,769,798. The company has a market cap of $177.50 million, a price-to-earnings ratio of -0.60 and a beta of 2.66. Blink Charging has a 1 year low of $1.53 and a 1 year high of $4.66. The firm has a fifty day moving average price of $2.15 and a 200 day moving average price of $2.63.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The business had revenue of $33.26 million for the quarter, compared to analysts’ expectations of $38.90 million. Blink Charging had a negative return on equity of 22.70% and a negative net margin of 108.11%. Blink Charging’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. On average, sell-side analysts anticipate that Blink Charging will post -0.62 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. HC Wainwright decreased their price objective on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. B. Riley upgraded shares of Blink Charging to a “hold” rating in a research report on Tuesday, June 25th. Needham & Company LLC dropped their target price on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus reduced their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Benchmark assumed coverage on shares of Blink Charging in a research report on Wednesday, July 31st. They set a “buy” rating and a $5.00 target price for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Blink Charging currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

About Blink Charging

Blink Charging Co, through its subsidiaries, owns, operates, manufactures, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and internationally. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types.