Blink Charging (NASDAQ:BLNK) Shares Up 7%

Shares of Blink Charging Co. (NASDAQ:BLNK) shot up 7% on Friday . The company traded as high as $28.34 and last traded at $28.06. 17,754 shares changed hands during mid-day 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 recently weighed in on BLNK. Needham & Company LLC began coverage on shares of Blink Charging in a report on Monday, May 10th. They issued a “buy” rating and a $39.00 price objective for the company. Cowen assumed coverage on shares of Blink Charging in a report on Monday, March 15th. They issued an “outperform” rating and a $38.00 price objective for the company. Finally, Roth Capital lowered their price target on shares of Blink Charging from $58.00 to $37.00 and set a “buy” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $29.75.

The company has a current ratio of 3.10, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -66.56 and a beta of 4.23. The firm’s fifty day simple moving average is $37.03 and its 200 day simple moving average is $35.82.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings results on Wednesday, May 12th. The company reported ($0.18) EPS 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%.

Several large investors have recently modified their holdings of BLNK. Citigroup Inc. lifted its position in shares of Blink Charging by 514.9% during the 4th quarter. Citigroup Inc. now owns 723,774 shares of the company’s stock worth $30,941,000 after buying an additional 606,063 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Blink Charging by 499,370.6% during the 1st quarter. Federated Hermes Inc. now owns 339,640 shares of the company’s stock worth $13,959,000 after buying an additional 339,572 shares during the last quarter. BlackRock Inc. lifted its position 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 buying an additional 215,232 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Blink Charging by 90.1% during the 1st quarter. Alps Advisors Inc. now owns 339,728 shares of the company’s stock worth $13,963,000 after buying an additional 161,057 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Blink Charging by 135.7% during the 4th quarter. First Trust Advisors LP now owns 244,364 shares of the company’s stock worth $10,447,000 after buying an additional 140,671 shares during the last quarter. Institutional investors and hedge funds own 18.25% of the company’s stock.

Blink Charging Company Profile (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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