Cambridge Investment Research Advisors Inc. lifted its stake in Blink Charging Co. (NASDAQ:BLNK) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,999 shares of the company’s stock after purchasing an additional 2,543 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.10% of Blink Charging worth $1,259,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc increased its holdings in shares of Blink Charging by 86.4% in the third quarter. AdvisorNet Financial Inc now owns 2,050 shares of the company’s stock valued at $59,000 after purchasing an additional 950 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of Blink Charging in the third quarter valued at approximately $66,000. Koshinski Asset Management Inc. acquired a new stake in shares of Blink Charging in the third quarter valued at approximately $74,000. Exchange Traded Concepts LLC increased its holdings in shares of Blink Charging by 24.0% in the third quarter. Exchange Traded Concepts LLC now owns 2,603 shares of the company’s stock valued at $74,000 after purchasing an additional 503 shares in the last quarter. Finally, Psagot Investment House Ltd. increased its holdings in shares of Blink Charging by 17.1% in the second quarter. Psagot Investment House Ltd. now owns 2,050 shares of the company’s stock valued at $84,000 after purchasing an additional 300 shares in the last quarter. 37.96% of the stock is owned by institutional investors and hedge funds.
BLNK has been the subject of a number of research reports. HC Wainwright raised shares of Blink Charging from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, November 15th. Stifel Nicolaus started coverage on shares of Blink Charging in a report on Monday, October 18th. They set a “hold” rating and a $29.00 target price for the company. Cowen lowered shares of Blink Charging from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $41.00 to $40.00 in a report on Monday, November 22nd. Roth Capital raised shares of Blink Charging from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $45.00 in a report on Friday, November 12th. Finally, Zacks Investment Research lowered shares of Blink Charging from a “hold” rating to a “sell” rating in a report on Tuesday, November 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.50.
In other news, Director Donald Engel sold 15,000 shares of Blink Charging stock in a transaction on Monday, November 8th. The shares were sold at an average price of $39.00, for a total transaction of $585,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 100,000 shares of company stock worth $4,376,500. Insiders own 17.10% of the company’s stock.
Shares of NASDAQ BLNK opened at $27.11 on Wednesday. The company’s fifty day moving average is $33.50 and its 200-day moving average is $32.78. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -24.65 and a beta of 3.52. Blink Charging Co. has a twelve month low of $25.00 and a twelve month high of $64.50.
Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, November 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). The firm had revenue of $6.40 million for the quarter, compared to the consensus estimate of $4.68 million. Blink Charging had a negative return on equity of 24.20% and a negative net margin of 285.50%. During the same period in the prior year, the business earned ($0.12) earnings per share. As a group, analysts forecast that Blink Charging Co. will post -1.25 EPS for the current fiscal year.
Blink Charging Company Profile
Blink Charging Co engages in the operation and provision of electric vehicle, charging equipment, and networked EV charging services. Its product line and services include Blink EV charging network, charging equipment, also known as electric vehicle supply equipment, and EV charging services. The company was founded by Michael D.
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