Bank of New York Mellon Corp Sells 83,690 Shares of Blink Charging Co. (NASDAQ:BLNK)

Bank of New York Mellon Corp lessened its stake in Blink Charging Co. (NASDAQ:BLNK) by 26.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,625 shares of the company’s stock after selling 83,690 shares during the quarter. Bank of New York Mellon Corp’s holdings in Blink Charging were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLNK. Verition Fund Management LLC acquired a new stake in shares of Blink Charging in the 3rd quarter valued at about $48,000. Intech Investment Management LLC acquired a new stake in Blink Charging in the 3rd quarter valued at approximately $52,000. Orion Portfolio Solutions LLC bought a new stake in Blink Charging in the 3rd quarter valued at approximately $90,000. Virtu Financial LLC bought a new position in shares of Blink Charging during the 3rd quarter worth approximately $96,000. Finally, XTX Topco Ltd acquired a new stake in shares of Blink Charging in the third quarter valued at approximately $129,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLNK has been the subject of a number of recent research reports. Benchmark reduced their price objective on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Barclays reduced their price target on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research note on Friday, March 14th. Stifel Nicolaus lowered their target price on shares of Blink Charging from $3.50 to $2.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Blink Charging in a research report on Friday, March 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blink Charging currently has an average rating of “Hold” and an average target price of $3.17.

Blink Charging Price Performance

Shares of BLNK opened at $0.94 on Friday. The firm has a market capitalization of $94.69 million, a PE ratio of -0.62 and a beta of 2.86. The company’s 50-day moving average is $1.08 and its 200-day moving average is $1.50. Blink Charging Co. has a fifty-two week low of $0.87 and a fifty-two week high of $3.75.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.03. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The firm had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.77 million. During the same period last year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was down 29.3% compared to the same quarter last year. Analysts predict that Blink Charging Co. will post -0.64 earnings per share for the current fiscal year.

Blink Charging Company Profile

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.