Blink Charging (NASDAQ:BLNK) Trading Down 4.8% – Should You Sell?

Blink Charging Co. (NASDAQ:BLNK)’s share price dropped 4.8% on Monday . The company traded as low as $0.5354 and last traded at $0.5428. 1,491,472 shares traded hands during trading, a decline of 27% from the average daily volume of 2,042,199 shares. The stock had previously closed at $0.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BLNK. Wall Street Zen upgraded Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.00.

Blink Charging Stock Performance

The stock has a market cap of $83.77 million, a P/E ratio of -0.87 and a beta of 2.03. The firm’s 50 day moving average is $0.72 and its 200 day moving average is $0.70.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Monday, May 11th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $20.78 million during the quarter, compared to the consensus estimate of $21.70 million. Blink Charging had a negative net margin of 73.75% and a negative return on equity of 83.40%. As a group, analysts expect that Blink Charging Co. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in Blink Charging by 1,256.4% in the fourth quarter. State Street Corp now owns 6,667,077 shares of the company’s stock valued at $4,447,000 after buying an additional 6,175,566 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Blink Charging by 6.4% during the third quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock valued at $7,722,000 after acquiring an additional 282,515 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Blink Charging by 227.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock valued at $1,703,000 after purchasing an additional 1,773,109 shares during the last quarter. UBS Group AG raised its position in shares of Blink Charging by 67.9% in the 3rd quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock valued at $3,878,000 after purchasing an additional 956,556 shares during the last quarter. Finally, Sabby Management LLC acquired a new stake in Blink Charging in the 4th quarter worth approximately $1,418,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Blink Charging Company Profile

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.