Blink Charging Co. (NASDAQ:BLNK) Short Interest Update

Blink Charging Co. (NASDAQ:BLNK) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 25,310,000 shares, a drop of 9.9% from the August 31st total of 28,090,000 shares. Based on an average daily volume of 4,710,000 shares, the days-to-cover ratio is presently 5.4 days.

Blink Charging Price Performance

Shares of NASDAQ:BLNK traded up $0.07 during trading on Friday, reaching $1.76. The stock had a trading volume of 7,377,646 shares, compared to its average volume of 5,811,419. Blink Charging has a 52 week low of $1.53 and a 52 week high of $4.66. The business’s 50-day moving average price is $2.18 and its 200 day moving average price is $2.64. The stock has a market capitalization of $177.87 million, a PE ratio of -0.62 and a beta of 2.66.

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

Analyst Ratings Changes

BLNK has been the topic of a number of recent research reports. B. Riley raised Blink Charging to a “hold” rating in a research report on Tuesday, June 25th. Stifel Nicolaus decreased their target price on Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Needham & Company LLC decreased their target price on Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. HC Wainwright cut their price target on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Benchmark assumed coverage on shares of Blink Charging in a research note on Wednesday, July 31st. They set a “buy” rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Insider Activity

In other news, Director Kristina A. Peterson sold 24,077 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $1.80, for a total value of $43,338.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BLNK. Capstone Investment Advisors LLC bought a new position in Blink Charging in the 4th quarter worth approximately $85,000. KBC Group NV raised its position in Blink Charging by 173.4% in the 4th quarter. KBC Group NV now owns 224,472 shares of the company’s stock worth $761,000 after purchasing an additional 142,366 shares during the last quarter. Quadrature Capital Ltd raised its position in Blink Charging by 861.1% in the 4th quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after purchasing an additional 411,763 shares during the last quarter. Virtu Financial LLC raised its position in Blink Charging by 618.0% in the 4th quarter. Virtu Financial LLC now owns 182,283 shares of the company’s stock worth $618,000 after purchasing an additional 156,896 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in Blink Charging by 24.8% in the 1st quarter. Arkadios Wealth Advisors now owns 42,667 shares of the company’s stock worth $128,000 after purchasing an additional 8,472 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

About Blink Charging

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.