Blink Charging Co (NASDAQ:BLNK) shares traded -14.87% lower at $2.92 on Wall Street last session.
BLNK stock price is now 2.87% away from the 50-day moving average and -27.32% away from the 200-day moving average. The market capitalization of the company currently stands at $196.84M.
With the price target maintained at $7, Needham recently Upgraded its rating from Hold to Buy for Blink Charging Co (NASDAQ: BLNK). On September 27, 2023, UBS recently initiated its ‘Buy’ rating on the stock quoting a target price of $7, while ‘Barclays’ rates the stock as ‘Equal Weight’
In other news, FARKAS MICHAEL D, Former Director Chairman & CEO sold 52,000 shares of the company’s stock on Sep 28 ’23. The stock was sold for $158,184 at an average price of $3.04. Upon completion of the transaction, the Former Director Chairman & CEO now directly owns 2,578,616 shares in the company, valued at $7.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 27 ’23, Former Director Chairman & CEO FARKAS MICHAEL D sold 26,000 shares of the business’s stock. A total of $81,692 was realized by selling the stock at an average price of $3.14. This leaves the insider owning 2,630,616 shares of the company worth $7.68 million. A total of 9.97% of the company’s stock is owned by insiders.
During the past 12 months, Blink Charging Co has had a low of $2.18 and a high of $8.90. As of last week, the company has a debt-to-equity ratio of 0.06, a current ratio of 3.24, and a quick ratio of 2.51. The fifty day moving average price for BLNK is $2.8387 and a two-hundred day moving average price translates $3.9980 for the stock.
The latest earnings results from Blink Charging Co (NASDAQ: BLNK) was released for Dec, 2023. According to the Engineering & Construction Company, earnings per share came in at -$0.31, inline with analysts’ expectations of -$0.31. This compares to -$0.51 EPS in the same period last year. The net profit margin was -144.88% and return on equity was -74.02% for BLNK. The company reported revenue of $43.38 million for the quarter, compared to $17.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 151.5 percent. For the current quarter, analysts expect BLNK to generate $35.85M 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 Bowie, Maryland.
