Blink Charging Co. (NASDAQ:BLNK) Short Interest Up 6.7% in August

Blink Charging Co. (NASDAQ:BLNK) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 28,090,000 shares, an increase of 6.7% from the August 15th total of 26,330,000 shares. Based on an average daily trading volume, of 5,050,000 shares, the short-interest ratio is presently 5.6 days.

Institutional Trading of Blink Charging

A number of institutional investors and hedge funds have recently modified their holdings of BLNK. Cetera Advisors LLC increased its holdings in shares of Blink Charging by 36.1% in the 1st quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock worth $42,000 after acquiring an additional 3,673 shares during the period. CWM LLC boosted its holdings in shares of Blink Charging by 60.2% in the second quarter. CWM LLC now owns 15,520 shares of the company’s stock worth $43,000 after buying an additional 5,834 shares during the period. Arkadios Wealth Advisors lifted its position in shares of Blink Charging by 24.8% in the first quarter. Arkadios Wealth Advisors now owns 42,667 shares of the company’s stock worth $128,000 after purchasing an additional 8,472 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Blink Charging by 48.9% in the first quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock worth $79,000 after purchasing an additional 8,668 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Blink Charging by 14.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,477 shares of the company’s stock worth $215,000 after purchasing an additional 8,955 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

Blink Charging Price Performance

Shares of NASDAQ:BLNK traded down $0.07 during midday trading on Wednesday, reaching $1.81. The company had a trading volume of 4,421,390 shares, compared to its average volume of 5,873,791. The stock’s fifty day moving average price is $2.44 and its 200-day moving average price is $2.72. The stock has a market capitalization of $182.92 million, a P/E ratio of -0.64 and a beta of 2.66. Blink Charging has a one year low of $1.53 and a one year high of $4.66.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The business had revenue of $33.26 million for the quarter, compared to analyst estimates of $38.90 million. Blink Charging had a negative return on equity of 22.70% and a negative net margin of 108.11%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company posted ($0.44) earnings per share. As a group, sell-side analysts forecast that Blink Charging will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLNK. Stifel Nicolaus reduced their price target on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. UBS Group reduced their target price on shares of Blink Charging from $7.00 to $4.50 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. HC Wainwright reduced their target price on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. B. Riley raised shares of Blink Charging to a “hold” rating in a research report on Tuesday, June 25th. Finally, Needham & Company LLC reduced their target price on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

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.