Blink Charging (NASDAQ:BLNK) Announces Earnings Results

Blink Charging (NASDAQ:BLNK) announced its earnings results, reporting a loss of ($0.10) per share, surpassing analysts' expectations of ($0.11). The company had a negative net margin of 203.81% and revenue of $27.03 million, below the anticipated $30.08 million. Shares traded at $1.59, with a market cap of $182.16 million. Institutional investors have increased their stakes, with 44.64% of the stock owned by them. Analysts have mixed ratings, with a consensus rating of "Hold" and an average price target of $2.13.

Blink Charging (NASDAQ:BLNK - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.01, Zacks reports. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%. The company had revenue of $27.03 million during the quarter, compared to analysts' expectations of $30.08 million.

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Blink Charging Price Performance

Charging Ahead: Investing in the EV Charging Infrastructure

Shares of BLNK traded up $0.08 during mid-day trading on Friday, reaching $1.59. The company had a trading volume of 2,972,818 shares, compared to its average volume of 3,905,753. The company has a market capitalization of $182.16 million, a P/E ratio of -0.76 and a beta of 3.50. Blink Charging has a twelve month low of $0.63 and a twelve month high of $2.65. The company's 50-day moving average is $1.65 and its 200-day moving average is $1.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP grew its holdings in shares of Blink Charging by 58.8% in the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company's stock worth $28,000 after purchasing an additional 10,851 shares during the last quarter. Jump Financial LLC bought a new stake in Blink Charging during the 2nd quarter worth approximately $60,000. Marshall Wace LLP acquired a new stake in Blink Charging during the 2nd quarter valued at $119,000. AQR Capital Management LLC raised its position in Blink Charging by 8,386.8% in the 1st 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 last quarter. Finally, Vanguard Group Inc. boosted its stake in Blink Charging by 6.4% in the third quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company's stock worth $7,722,000 after purchasing an additional 282,515 shares in the last quarter. 44.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

ChargePoint Can Optimize Operations with AI and ML Implementation

Several brokerages have commented on BLNK. Wall Street Zen raised Blink Charging from a "sell" rating to a "hold" rating in a research report on Saturday. Zacks Research upgraded shares of Blink Charging from a "strong sell" rating to a "hold" rating in a report on Monday, October 20th. Barclays decreased their target price on Blink Charging from $1.50 to $1.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. HC Wainwright reiterated a "buy" rating and issued a $5.00 price objective on shares of Blink Charging in a research report on Tuesday, August 19th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Blink Charging in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.13.

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About Blink Charging

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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.

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