Short Interest in Blink Charging Co. (NASDAQ:BLNK) Declines By 12.9%

Blink Charging Co. (NASDAQ:BLNK) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 12,824,586 shares, a decrease of 12.9% from the December 31st total of 14,720,841 shares. Currently, 11.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,727,476 shares, the short-interest ratio is currently 2.7 days. Based on an average daily trading volume, of 4,727,476 shares, the short-interest ratio is currently 2.7 days. Currently, 11.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research firms have weighed in on BLNK. Zacks Research upgraded Blink Charging from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blink Charging in a research note on Friday, January 9th. Finally, Wall Street Zen raised Blink Charging from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.13.

Insider Transactions at Blink Charging

In other news, CFO Michael Bercovich bought 65,333 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were purchased at an average cost of $0.77 per share, with a total value of $50,306.41. Following the acquisition, the chief financial officer directly owned 188,563 shares in the company, valued at $145,193.51. This represents a 53.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of Blink Charging

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in Blink Charging by 8,386.8% in the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after purchasing an additional 873,989 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Blink Charging in the 2nd quarter valued at about $64,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Blink Charging in the second quarter valued at about $42,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Blink Charging by 62.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company’s stock worth $57,000 after acquiring an additional 23,438 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Blink Charging in the second quarter worth approximately $384,000. Institutional investors own 44.64% of the company’s stock.

Blink Charging Stock Up 0.4%

Shares of BLNK opened at $0.71 on Tuesday. The stock has a market cap of $81.66 million, a PE ratio of -0.57 and a beta of 1.83. Blink Charging has a 12-month low of $0.63 and a 12-month high of $2.65. The business has a 50-day simple moving average of $0.89 and a two-hundred day simple moving average of $1.23.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $27.03 million for the quarter, compared to analysts’ expectations of $30.08 million. Blink Charging had a negative return on equity of 74.28% and a negative net margin of 118.41%. On average, equities research analysts expect that Blink Charging will post -0.64 EPS for the current year.

About Blink Charging

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.