Blink Charging Co. (NASDAQ:BLNK) Short Interest Update

Blink Charging Co. (NASDAQ:BLNK) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 22,220,000 shares, a growth of 13.7% from the March 15th total of 19,550,000 shares. Based on an average trading volume of 7,410,000 shares, the short-interest ratio is currently 3.0 days.

Hedge Funds Weigh In On Blink Charging

A number of institutional investors have recently bought and sold shares of BLNK. BlackRock Inc. grew its position in shares of Blink Charging by 10.2% during the second quarter. BlackRock Inc. now owns 3,901,082 shares of the company’s stock valued at $23,367,000 after purchasing an additional 361,858 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Blink Charging by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 2,893,783 shares of the company’s stock valued at $9,810,000 after purchasing an additional 148,789 shares in the last quarter. Invesco Ltd. grew its position in Blink Charging by 35.8% in the third quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock worth $6,601,000 after acquiring an additional 568,417 shares in the last quarter. State Street Corp grew its position in Blink Charging by 42.8% in the second quarter. State Street Corp now owns 1,991,123 shares of the company’s stock worth $11,927,000 after acquiring an additional 596,719 shares in the last quarter. Finally, Barclays PLC grew its position in Blink Charging by 1,195.1% in the fourth quarter. Barclays PLC now owns 1,012,273 shares of the company’s stock worth $3,431,000 after acquiring an additional 934,112 shares in the last quarter. 44.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BLNK shares. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Blink Charging in a research report on Friday, March 15th. Roth Mkm dropped their target price on Blink Charging from $25.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, March 15th. DA Davidson reiterated a “neutral” rating and set a $5.00 price target on shares of Blink Charging in a research report on Friday, March 15th. Finally, HC Wainwright decreased their target price on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blink Charging presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Blink Charging Price Performance

BLNK traded up $0.08 during trading on Tuesday, reaching $2.37. The stock had a trading volume of 3,551,967 shares, compared to its average volume of 7,265,919. The stock’s 50 day moving average is $2.91 and its two-hundred day moving average is $2.96. Blink Charging has a one year low of $2.18 and a one year high of $8.03.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Thursday, March 14th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.12. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. The firm had revenue of $42.71 million for the quarter, compared to analysts’ expectations of $43.63 million. Research analysts predict that Blink Charging will post -0.84 earnings per share for the current fiscal year.

Blink Charging Company Profile

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.