Raymond James Financial Services Advisors Inc. Buys Shares of 13,775 Blink Charging Co. (NASDAQ:BLNK)


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Raymond James Financial Services Advisors Inc. bought a new stake in shares of Blink Charging Co. (NASDAQ:BLNK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,775 shares of the company’s stock, valued at approximately $589,000.

Several other large investors have also made changes to their positions in BLNK. Larson Financial Group LLC purchased a new stake in shares of Blink Charging in the fourth quarter valued at approximately $29,000. CNB Bank purchased a new stake in shares of Blink Charging in the fourth quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Blink Charging in the fourth quarter valued at approximately $43,000. McIlrath & Eck LLC purchased a new stake in shares of Blink Charging in the fourth quarter valued at approximately $43,000. Finally, ShoreHaven Wealth Partners LLC purchased a new stake in shares of Blink Charging in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 18.25% of the company’s stock.

Shares of BLNK stock opened at $40.64 on Thursday. The business’s fifty day simple moving average is $38.64 and its 200-day simple moving average is $30.82. The company has a market cap of $1.70 billion, a PE ratio of -90.31 and a beta of 4.23. The company has a current ratio of 3.10, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. Blink Charging Co. has a 12-month low of $1.55 and a 12-month high of $64.50.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Wednesday, March 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.12). The business had revenue of $2.45 million for the quarter, compared to analyst estimates of $1.69 million. Blink Charging had a negative return on equity of 152.06% and a negative net margin of 285.71%.

In related news, CEO Michael D. Farkas sold 540,000 shares of the company’s stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $41.00, for a total value of $22,140,000.00. Following the transaction, the chief executive officer now directly owns 1,092,295 shares of the company’s stock, valued at approximately $44,784,095. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald Engel sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 27th. The shares were sold at an average price of $58.87, for a total value of $3,532,200.00. Following the completion of the transaction, the insider now directly owns 329,981 shares in the company, valued at $19,425,981.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 766,981 shares of company stock worth $33,661,019. Insiders own 24.30% of the company’s stock.

A number of analysts recently issued reports on BLNK shares. Cowen started coverage on Blink Charging in a report on Monday, March 15th. They issued an “outperform” rating and a $38.00 price target for the company. Roth Capital lowered their target price on Blink Charging from $67.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, April 1st.

Blink Charging Company Profile

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.

Further Reading: Economic Bubble

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Institutional Ownership by Quarter for Blink Charging (NASDAQ:BLNK)

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