Blink Charging Co. (NASDAQ:BLNK) Sees Significant Increase in Short Interest

Blink Charging Co. (NASDAQ:BLNK) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 19,550,000 shares, an increase of 6.6% from the February 29th total of 18,340,000 shares. Based on an average daily volume of 8,940,000 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BLNK shares. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Blink Charging in a research note on Friday, March 15th. Roth Mkm lowered their target price on Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, March 15th. DA Davidson reissued a “neutral” rating and issued a $5.00 price objective on shares of Blink Charging in a research report on Friday, March 15th. Finally, HC Wainwright dropped their target price on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Blink Charging presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Institutional Investors Weigh In On Blink Charging

Institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd grew its stake in Blink Charging by 861.1% during the fourth quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after buying an additional 411,763 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Blink Charging by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 2,893,783 shares of the company’s stock worth $9,810,000 after purchasing an additional 148,789 shares during the period. Virtu Financial LLC raised its stake in shares of Blink Charging by 618.0% in the 4th quarter. Virtu Financial LLC now owns 182,283 shares of the company’s stock valued at $618,000 after purchasing an additional 156,896 shares during the period. Barclays PLC grew its holdings in shares of Blink Charging by 1,195.1% in the 4th quarter. Barclays PLC now owns 1,012,273 shares of the company’s stock valued at $3,431,000 after acquiring an additional 934,112 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Blink Charging by 14.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 62,522 shares of the company’s stock worth $212,000 after purchasing an additional 8,109 shares during the period. 44.64% of the stock is owned by institutional investors and hedge funds.

Blink Charging Price Performance

BLNK opened at $2.83 on Thursday. Blink Charging has a fifty-two week low of $2.18 and a fifty-two week high of $8.42. The company has a market capitalization of $285.80 million, a P/E ratio of -0.88 and a beta of 2.77. The firm’s fifty day moving average price is $2.89 and its two-hundred day moving average price is $3.00.

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.