Renaissance Technologies LLC decreased its stake in shares of Blink Charging Co. (NASDAQ:BLNK – Free Report) by 41.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,501,600 shares of the company’s stock after selling 1,051,884 shares during the quarter. Renaissance Technologies LLC’s holdings in Blink Charging were worth $851,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Engineers Gate Manager LP lifted its stake 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 valued at $28,000 after purchasing an additional 10,851 shares in the last quarter. Kestra Advisory Services LLC lifted its position in Blink Charging by 60.5% during the 4th quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock worth $34,000 after acquiring an additional 18,950 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Blink Charging during the 3rd quarter worth $33,000. Pilgrim Partners Asia Pte Ltd increased its holdings in Blink Charging by 83.3% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 66,000 shares of the company’s stock worth $44,000 after purchasing an additional 30,000 shares during the last quarter. Finally, State of Wyoming acquired a new position in Blink Charging during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Blink Charging from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blink Charging in a research note on Friday, May 22nd. Finally, HC Wainwright decreased their price target on Blink Charging to $2.50 and set a “buy” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.50.
Blink Charging Stock Performance
Shares of NASDAQ BLNK opened at $0.59 on Friday. The business has a 50 day simple moving average of $0.60 and a 200 day simple moving average of $0.67. Blink Charging Co. has a 52 week low of $0.45 and a 52 week high of $2.65. The stock has a market cap of $85.88 million, a price-to-earnings ratio of -1.48 and a beta of 2.05.
Blink Charging (NASDAQ:BLNK – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $21.67 million during the quarter, compared to the consensus estimate of $24.25 million. Blink Charging had a negative return on equity of 57.97% and a negative net margin of 52.24%. On average, analysts predict that Blink Charging Co. will post -0.17 EPS for the current year.
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.
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