Blink Charging (NASDAQ:BLNK) Rating Lowered to Sell at Wall Street Zen

Blink Charging (NASDAQ:BLNK) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blink Charging in a report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $1.95.

Blink Charging Price Performance

Shares of BLNK opened at $0.58 on Friday. The firm’s 50 day simple moving average is $0.66 and its 200 day simple moving average is $1.10. The company has a market capitalization of $82.71 million, a P/E ratio of -0.47 and a beta of 1.83. Blink Charging has a 1-year low of $0.45 and a 1-year high of $2.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BLNK. State Street Corp grew its position in Blink Charging by 1,256.4% during the 4th quarter. State Street Corp now owns 6,667,077 shares of the company’s stock worth $4,447,000 after acquiring an additional 6,175,566 shares during the last quarter. Sabby Management LLC bought a new position in shares of Blink Charging in the fourth quarter worth approximately $1,418,000. Renaissance Technologies LLC grew its holdings in shares of Blink Charging by 227.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock worth $1,703,000 after purchasing an additional 1,773,109 shares during the last quarter. UBS Group AG increased its stake in shares of Blink Charging by 67.9% in the third quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock worth $3,878,000 after buying an additional 956,556 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Blink Charging by 8,386.8% during the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after buying an additional 873,989 shares during the last quarter. 44.64% of the stock is owned by institutional investors.

Blink Charging Company Profile

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.