Intech Investment Management LLC Has $68,000 Position in Blink Charging Co. (NASDAQ:BLNK)

Intech Investment Management LLC increased its holdings in shares of Blink Charging Co. (NASDAQ:BLNK) by 59.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 48,569 shares of the company’s stock after acquiring an additional 18,110 shares during the quarter. Intech Investment Management LLC’s holdings in Blink Charging were worth $68,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in shares of Blink Charging in the third quarter worth $48,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Blink Charging in the third quarter valued at about $90,000. Virtu Financial LLC acquired a new position in shares of Blink Charging in the third quarter worth approximately $96,000. XTX Topco Ltd acquired a new position in shares of Blink Charging in the third quarter worth approximately $129,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Blink Charging by 8.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,415 shares of the company’s stock valued at $200,000 after acquiring an additional 9,551 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLNK has been the subject of several analyst reports. Roth Mkm restated a “buy” rating and set a $3.00 price target (down previously from $4.00) on shares of Blink Charging in a report on Friday, March 14th. Benchmark cut their price target on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Barclays dropped their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Blink Charging in a research report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a report on Friday, March 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Blink Charging currently has an average rating of “Hold” and a consensus target price of $3.17.

Blink Charging Stock Performance

BLNK stock opened at $0.94 on Friday. Blink Charging Co. has a fifty-two week low of $0.87 and a fifty-two week high of $3.75. The stock’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $1.50. The company has a market cap of $94.69 million, a P/E ratio of -0.62 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $30.20 million for the quarter, compared to analysts’ expectations of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. Blink Charging’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same period last year, the business earned ($0.28) EPS. Equities analysts predict that Blink Charging Co. will post -0.64 earnings per share for the current year.

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.