Koshinski Asset Management Inc. Acquires New Holdings in Blink Charging Co. (NASDAQ:BLNK)

Koshinski Asset Management Inc. acquired a new stake in Blink Charging Co. (NASDAQ:BLNK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 37,850 shares of the company’s stock, valued at approximately $1,728,000. Koshinski Asset Management Inc. owned 0.11% of Blink Charging at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BLNK. Raymond James & Associates purchased a new stake in Blink Charging in the 3rd quarter valued at about $203,000. California Public Employees Retirement System purchased a new stake in Blink Charging in the 3rd quarter valued at about $451,000. LPL Financial LLC purchased a new stake in Blink Charging in the 3rd quarter valued at about $196,000. Morgan Stanley raised its holdings in Blink Charging by 1,018.9% in the 3rd quarter. Morgan Stanley now owns 228,239 shares of the company’s stock valued at $2,353,000 after buying an additional 207,840 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Blink Charging in the 3rd quarter valued at about $261,000. Hedge funds and other institutional investors own 18.25% of the company’s stock.

Shares of NASDAQ:BLNK opened at $40.64 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.10 and a quick ratio of 2.64. The firm has a market capitalization of $1.70 billion, a PE ratio of -90.31 and a beta of 4.23. The firm’s 50-day moving average is $38.64 and its two-hundred day moving average is $30.82. Blink Charging Co. has a 1 year low of $1.55 and a 1 year high of $64.50.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Wednesday, March 24th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.12). Blink Charging had a negative return on equity of 152.06% and a negative net margin of 285.71%. The firm had revenue of $2.45 million for the quarter, compared to analysts’ expectations of $1.69 million.

A number of brokerages have issued reports on BLNK. Roth Capital cut their price target on shares of Blink Charging from $67.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, April 1st. Cowen began coverage on shares of Blink Charging in a research note on Monday, March 15th. They set an “outperform” rating and a $38.00 price target on the stock.

In related news, insider Donald Engel sold 46,113 shares of the company’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $48.81, for a total transaction of $2,250,775.53. Following the sale, the insider now directly owns 149,981 shares in the company, valued at $7,320,572.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael D. Farkas sold 540,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $41.00, for a total transaction of $22,140,000.00. Following the sale, the chief executive officer now owns 1,092,295 shares in the company, valued at $44,784,095. The disclosure for this sale can be found here. Insiders have sold 766,981 shares of company stock worth $33,661,019 over the last 90 days. Insiders own 24.30% of the company’s stock.

Blink Charging Profile

Blink Charging Co, through its subsidiaries, owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types.

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Institutional Ownership by Quarter for Blink Charging (NASDAQ:BLNK)

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