In yesterday’s Wall Street session, Blink Charging Co. (NASDAQ:BLNK) shares traded at $5.91, up 3.87% from the previous session.
As of this writing, 10 analysts cover Blink Charging Co. (NASDAQ:BLNK). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $7.00, we find $10.00. Given the previous closing price of $5.69, this indicates a potential upside of 75.75 percent. BLNK stock price is now -13.06% away from the 50-day moving average and -47.05% away from the 200-day moving average. The market capitalization of the company currently stands at $388.11M.
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There are 7 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $17.11 as their price target over the next twelve months.
With the price target of $11, Barclays recently initiated with Equal Weight rating for Blink Charging Co. (NASDAQ: BLNK).
In other news, FARKAS MICHAEL D, Dir. Former Chairman & CEO sold 36,000 shares of the company’s stock on Jun 27. The stock was sold for $194,148 at an average price of $5.39. Upon completion of the transaction, the Dir. Former Chairman & CEO now directly owns 3,420,616 shares in the company, valued at $20.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 26, Dir. Former Chairman & CEO FARKAS MICHAEL D sold 26,000 shares of the business’s stock. A total of $143,026 was realized by selling the stock at an average price of $5.50. This leaves the insider owning 3,456,616 shares of the company worth $20.43 million. Insiders disposed of 865,534 shares of company stock worth roughly $5.12 million over the past 1 year. A total of 5.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BLNK stock. A new stake in Blink Charging Co. shares was purchased by WEISS ASSET MANAGEMENT LP during the first quarter worth $1,346,000. HBK INVESTMENTS L P invested $1,182,000 in shares of BLNK during the first quarter. In the first quarter, SUSQUEHANNA INTERNATIONAL GROUP, LLP acquired a new stake in Blink Charging Co. valued at approximately $850,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in BLNK for approximately $754,000. WEISS MULTI-STRATEGY ADVISERS LLC purchased a new stake in BLNK valued at around $591,000 in the second quarter. In total, there are 265 active investors with 28.80% ownership of the company’s stock.
Thursday morning saw Blink Charging Co. (NASDAQ: BLNK) opened at $5.71. During the past 12 months, Blink Charging Co. has had a low of $5.32 and a high of $26.95. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.20, and a quick ratio of 2.50. The fifty day moving average price for BLNK is $6.80 and a two-hundred day moving average price translates $11.16 for the stock.
The latest earnings results from Blink Charging Co. (NASDAQ: BLNK) was released for Mar, 2023. According to the Engineering & Construction Company, earnings per share came in at -$0.53, missing analysts’ expectations of -$0.46 by -0.07. This compares to -$0.36 EPS in the same period last year. The company reported revenue of $21.67 million for the quarter, compared to $9.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 121.1 percent. For the current quarter, analysts expect BLNK to generate $23.91M in revenue.
Blink Charging Co.(BLNK) 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. It also provides Blink Network, a cloud-based system that operates, maintains, and manages various Blink charging stations and associated charging data, back-end operations, and payment processing, as well as offers property owners, managers, parking companies, and state and municipal entities with cloud-based services that enable the remote monitoring and management of EV charging stations; and EV drivers with station information, including station location, availability, and applicable fees. In addition, the company offers EV charging hardware, software services, and service plans. It has strategic partnerships across transit/destination locations, including airports, auto dealers, healthcare/medicals, hotels, mixed-use and municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, religious institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations. The company offers its services through direct sales force and resellers, as well as sells residential Level 2 chargers through various internet channels. Blink Charging Co. was founded in 2009 and is headquartered in Miami Beach, Florida.
