Blink Charging Co. (NASDAQ:BLNK) Sees Large Increase in Short Interest

Blink Charging Co. (NASDAQ:BLNK) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 18,730,049 shares, an increase of 34.0% from the March 15th total of 13,980,217 shares. Based on an average daily trading volume, of 3,269,535 shares, the short-interest ratio is currently 5.7 days. Approximately 13.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BLNK. Engineers Gate Manager LP raised its stake in shares of Blink Charging by 58.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after buying an additional 10,851 shares during the last quarter. State of Wyoming purchased a new stake in Blink Charging during the 4th quarter worth about $29,000. J. Derek Lewis & Associates Inc. purchased a new stake in Blink Charging during the 4th quarter worth about $30,000. R Squared Ltd purchased a new stake in Blink Charging during the 3rd quarter worth about $31,000. Finally, Squarepoint Ops LLC purchased a new stake in Blink Charging during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BLNK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blink Charging in a research report on Friday, January 9th. Wall Street Zen lowered shares of Blink Charging from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Blink Charging currently has an average rating of “Hold” and an average target price of $1.95.

Blink Charging Stock Up 6.5%

NASDAQ:BLNK opened at $0.65 on Wednesday. The company has a market capitalization of $93.65 million, a PE ratio of -0.83 and a beta of 1.83. Blink Charging has a 52-week low of $0.45 and a 52-week high of $2.65. The stock has a fifty day simple moving average of $0.63 and a 200-day simple moving average of $1.05.

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.