Blink Charging Co (NASDAQ:BLNK) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 1,001,700 shares, a drop of 13.8% from the July 31st total of 1,162,000 shares. Currently, 5.5% of the shares of the stock are sold short. Based on an average daily volume of 162,500 shares, the short-interest ratio is presently 6.2 days.
BLNK has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a report on Friday, May 17th. Zacks Investment Research raised shares of Blink Charging from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Wednesday, August 21st. Finally, ThinkEquity assumed coverage on shares of Blink Charging in a research note on Monday, August 26th. They issued a “buy” rating and a $5.00 price objective on the stock.
An institutional investor recently raised its position in Blink Charging stock. BlackRock Inc. raised its holdings in Blink Charging Co (NASDAQ:BLNK) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 374,897 shares of the company’s stock after acquiring an additional 6,883 shares during the quarter. BlackRock Inc. owned about 1.43% of Blink Charging worth $1,005,000 as of its most recent SEC filing. 12.22% of the stock is currently owned by institutional investors and hedge funds.
BLNK stock traded up $0.14 during midday trading on Friday, reaching $2.81. The company’s stock had a trading volume of 383,881 shares, compared to its average volume of 124,262. Blink Charging has a 52 week low of $1.56 and a 52 week high of $4.25. The stock has a market cap of $73.73 million, a PE ratio of -2.16 and a beta of 4.82. The company has a quick ratio of 3.54, a current ratio of 3.96 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $2.67 and its 200-day simple moving average is $2.83.
Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Blink Charging had a negative net margin of 309.42% and a negative return on equity of 58.19%. The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.71 million. As a group, equities analysts forecast that Blink Charging will post -0.33 earnings per share for the current fiscal year.
Blink Charging Company Profile
Blink Charging Co owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types. It also provides Blink Network, a cloud-based software that operates, maintains, and tracks various Blink EV charging stations and associated charging data, as well as provides property owners, managers, and parking companies with cloud-based services that enable the remote monitoring and management of EV charging stations and payment processing.
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