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

Wall Street Zen downgraded shares of Blink Charging (NASDAQ:BLNK) from a hold rating to a sell rating in a research note released on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Blink Charging in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.00.

Blink Charging Stock Performance

Shares of BLNK opened at $0.54 on Friday. The business’s 50-day moving average is $0.63 and its two-hundred day moving average is $0.68. The company has a market capitalization of $77.99 million, a P/E ratio of -0.81 and a beta of 2.05. Blink Charging has a fifty-two week low of $0.45 and a fifty-two week high of $2.65.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%.The company had revenue of $20.78 million during the quarter, compared to the consensus estimate of $21.70 million. Analysts forecast that Blink Charging will post -0.17 EPS for the current year.

Institutional Trading of Blink Charging

Several institutional investors have recently modified their holdings of BLNK. Squarepoint Ops LLC acquired a new stake in Blink Charging in the 3rd quarter worth about $33,000. Engineers Gate Manager LP raised its holdings in shares of Blink Charging by 58.8% during the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after acquiring an additional 10,851 shares during the last quarter. State of Wyoming acquired a new position in shares of Blink Charging during the fourth quarter valued at approximately $29,000. J. Derek Lewis & Associates Inc. purchased a new position in shares of Blink Charging in the fourth quarter valued at approximately $30,000. Finally, Kestra Advisory Services LLC lifted its position in shares of Blink Charging by 60.5% in the fourth quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock valued at $34,000 after acquiring an additional 18,950 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.