Raymond James Financial Services Advisors Inc. Sells 6,952 Shares of Blink Charging Co. (NASDAQ:BLNK)

Raymond James Financial Services Advisors Inc. lowered its stake in Blink Charging Co. (NASDAQ:BLNK) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,446 shares of the company’s stock after selling 6,952 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Blink Charging were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its stake in Blink Charging by 5.4% in the 3rd quarter. Alps Advisors Inc. now owns 238,758 shares of the company’s stock worth $731,000 after purchasing an additional 12,191 shares during the period. Quadrature Capital Ltd bought a new position in Blink Charging in the 3rd quarter worth about $146,000. Teza Capital Management LLC bought a new stake in shares of Blink Charging during the 3rd quarter valued at about $34,000. Stifel Financial Corp boosted its position in shares of Blink Charging by 39.0% during the 3rd quarter. Stifel Financial Corp now owns 890,505 shares of the company’s stock valued at $2,725,000 after acquiring an additional 249,810 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Blink Charging by 13.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 54,413 shares of the company’s stock valued at $167,000 after acquiring an additional 6,589 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

Blink Charging Price Performance

NASDAQ:BLNK opened at $2.31 on Friday. The business has a 50 day moving average of $2.82 and a 200 day moving average of $2.92. The company has a market capitalization of $233.30 million, a price-to-earnings ratio of -0.72 and a beta of 2.77. Blink Charging Co. has a 1-year low of $2.18 and a 1-year high of $7.70.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Thursday, March 14th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.12. The company had revenue of $42.71 million during the quarter, compared to the consensus estimate of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. As a group, sell-side analysts anticipate that Blink Charging Co. will post -0.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BLNK shares. DA Davidson reiterated a “neutral” rating and set a $5.00 price target on shares of Blink Charging in a research report on Friday, March 15th. HC Wainwright dropped their price target on Blink Charging from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Roth Mkm dropped their price target on Blink Charging from $25.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Blink Charging in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Blink Charging presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

About Blink Charging

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.