Blink Charging Co (BLNK) Sees Significant Decrease in Short Interest

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Blink Charging Co (NASDAQ:BLNK) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 444,626 shares, a drop of 28.6% from the December 31st total of 622,469 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 231,260 shares, the short-interest ratio is currently 1.9 days.

Separately, HC Wainwright started coverage on shares of Blink Charging in a research report on Monday, December 10th. They issued a “buy” rating and a $5.00 price objective on the stock.

Shares of NASDAQ BLNK opened at $2.29 on Friday. Blink Charging has a one year low of $1.28 and a one year high of $9.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.58 and a current ratio of 3.70.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Wednesday, November 14th. The company reported ($0.13) EPS for the quarter. The company had revenue of $0.55 million for the quarter. Blink Charging had a return on equity of 4,449.22% and a net margin of 965.14%. Equities research analysts forecast that Blink Charging will post -2.85 earnings per share for the current year.

In other news, Director Donald Engel acquired 45,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $99,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 33.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in shares of Blink Charging during the 2nd quarter worth $530,000. Perkins Capital Management Inc. purchased a new stake in shares of Blink Charging during the 3rd quarter worth $104,000. Man Group plc purchased a new stake in shares of Blink Charging during the 3rd quarter worth $143,000. Blue Fin Capital Inc. boosted its position in shares of Blink Charging by 3.3% during the 3rd quarter. Blue Fin Capital Inc. now owns 1,064,356 shares of the company’s stock worth $1,064,000 after purchasing an additional 34,388 shares in the last quarter. Finally, Endurance Wealth Management Inc. boosted its position in shares of Blink Charging by 42.9% in the 4th quarter. Endurance Wealth Management Inc. now owns 50,000 shares of the company’s stock worth $86,000 after buying an additional 15,000 shares in the last quarter. Institutional investors own 8.11% of the company’s stock.

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About Blink Charging

Blink Charging Co owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services. 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 software that operates, maintains, and tracks various Blink EV charging stations and associated charging data, as well as provides property owners, managers, and parking companies with cloud-based services that enable the remote monitoring and management of EV charging stations and payment processing.

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