Blink Charging Co. (NASDAQ:BLNK) Short Interest Down 12.9% in January

Blink Charging Co. (NASDAQ:BLNK) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 12,824,586 shares, a decline of 12.9% from the December 31st total of 14,720,841 shares. Approximately 11.4% of the company’s shares are short sold. Based on an average trading volume of 4,727,476 shares, the days-to-cover ratio is currently 2.7 days. Based on an average trading volume of 4,727,476 shares, the days-to-cover ratio is currently 2.7 days. Approximately 11.4% of the company’s shares are short sold.

Blink Charging Price Performance

Shares of NASDAQ BLNK opened at $0.71 on Tuesday. The business has a 50-day moving average of $0.89 and a 200-day moving average of $1.23. The stock has a market capitalization of $81.66 million, a price-to-earnings ratio of -0.57 and a beta of 1.83. Blink Charging has a fifty-two week low of $0.63 and a fifty-two week high of $2.65.

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

Wall Street Analyst Weigh In

BLNK has been the topic of a number of research reports. Wall Street Zen raised shares of Blink Charging from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Blink Charging in a report on Friday, January 9th. Finally, Zacks Research raised shares of Blink Charging from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.13.

Insider Activity

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

Institutional Investors Weigh In On Blink Charging

A number of institutional investors and hedge funds have recently modified their holdings of BLNK. Catalyst Funds Management Pty Ltd acquired a new stake in Blink Charging in the 2nd quarter worth about $42,000. Y Intercept Hong Kong Ltd bought a new position in Blink Charging during the 2nd quarter worth $64,000. Aventura Private Wealth LLC bought a new stake in shares of Blink Charging during the 4th quarter valued at $139,000. Squarepoint Ops LLC bought a new stake in shares of Blink Charging during the 3rd quarter valued at $33,000. Finally, General Motors Holdings LLC acquired a new stake in shares of Blink Charging during the 3rd quarter worth $1,248,000. 44.64% of the stock is owned by institutional investors.

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.