First Trust Advisors LP Trims Stake in Blink Charging Co. (NASDAQ:BLNK)

First Trust Advisors LP trimmed its position in Blink Charging Co. (NASDAQ:BLNK) by 6.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 334,806 shares of the company’s stock after selling 22,601 shares during the quarter. First Trust Advisors LP’s holdings in Blink Charging were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its stake in Blink Charging by 19.4% in the fourth quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock worth $1,373,000 after acquiring an additional 160,251 shares during the period. Barclays PLC lifted its position in shares of Blink Charging by 238.4% in the 3rd quarter. Barclays PLC now owns 173,704 shares of the company’s stock worth $299,000 after purchasing an additional 122,367 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Blink Charging by 14.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company’s stock worth $1,301,000 after purchasing an additional 116,758 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Blink Charging by 30.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 291,675 shares of the company’s stock valued at $405,000 after acquiring an additional 68,027 shares during the period. Finally, PEAK6 LLC purchased a new position in Blink Charging in the fourth quarter valued at about $139,000. Institutional investors own 44.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Blink Charging in a report on Friday, March 14th. Roth Mkm reissued a “buy” rating and set a $3.00 target price (down previously from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Benchmark decreased their price target on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday, March 14th. UBS Group cut their price objective on Blink Charging from $1.00 to $0.80 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a report on Friday, March 14th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.04.

Blink Charging Price Performance

NASDAQ:BLNK opened at $0.83 on Friday. The firm has a market cap of $85.16 million, a price-to-earnings ratio of -0.55 and a beta of 3.34. The company has a 50 day moving average price of $0.85 and a 200-day moving average price of $1.27. Blink Charging Co. has a 1-year low of $0.63 and a 1-year high of $3.75.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The firm had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The business’s revenue was down 29.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) EPS. On average, sell-side analysts anticipate 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.