Blink Charging (NASDAQ:BLNK) Shares Up 7%

Blink Charging Co. (NASDAQ:BLNK) shares shot up 7% on Friday . The company traded as high as $28.34 and last traded at $28.06. 17,754 shares were traded during trading, a decline of 100% from the average session volume of 7,180,910 shares. The stock had previously closed at $26.22.

A number of brokerages have weighed in on BLNK. Cowen began coverage on shares of Blink Charging in a research report on Monday, March 15th. They set an “outperform” rating and a $38.00 price target for the company. Needham & Company LLC began coverage on shares of Blink Charging in a research report on Monday, May 10th. They set a “buy” rating and a $39.00 price target for the company. Finally, Roth Capital dropped their price target on shares of Blink Charging from $58.00 to $37.00 and set a “buy” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $29.75.

The company has a quick ratio of 2.64, a current ratio of 3.10 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -66.56 and a beta of 4.23. The business’s fifty day moving average is $37.03 and its two-hundred day moving average is $35.82.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings data on Wednesday, May 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Blink Charging had a negative return on equity of 152.06% and a negative net margin of 285.71%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. increased its stake in Blink Charging by 514.9% in the 4th quarter. Citigroup Inc. now owns 723,774 shares of the company’s stock valued at $30,941,000 after buying an additional 606,063 shares during the period. BlackRock Inc. grew its stake in shares of Blink Charging by 45.6% during the 1st quarter. BlackRock Inc. now owns 687,418 shares of the company’s stock worth $28,254,000 after purchasing an additional 215,232 shares during the period. Alps Advisors Inc. grew its stake in Blink Charging by 90.1% in the 1st quarter. Alps Advisors Inc. now owns 339,728 shares of the company’s stock valued at $13,963,000 after acquiring an additional 161,057 shares during the last quarter. Federated Hermes Inc. grew its stake in Blink Charging by 499,370.6% in the 1st quarter. Federated Hermes Inc. now owns 339,640 shares of the company’s stock valued at $13,959,000 after acquiring an additional 339,572 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Blink Charging by 50.5% in the 1st quarter. Geode Capital Management LLC now owns 278,631 shares of the company’s stock valued at $11,451,000 after acquiring an additional 93,528 shares during the last quarter. 18.25% of the stock is currently owned by institutional investors.

About Blink Charging (NASDAQ:BLNK)

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

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