Swedbank AB Sells 19,122 Shares of Blink Charging Co. (NASDAQ:BLNK)

Swedbank AB reduced its position in Blink Charging Co. (NASDAQ:BLNK) by 11.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,622 shares of the company’s stock after selling 19,122 shares during the period. Swedbank AB’s holdings in Blink Charging were worth $394,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Private Advisor Group LLC purchased a new position in shares of Blink Charging in the 4th quarter valued at approximately $42,000. Cetera Advisors LLC raised its position in shares of Blink Charging by 36.1% in the 1st quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock valued at $42,000 after purchasing an additional 3,673 shares during the last quarter. CWM LLC raised its position in shares of Blink Charging by 60.2% in the 2nd quarter. CWM LLC now owns 15,520 shares of the company’s stock valued at $43,000 after purchasing an additional 5,834 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Blink Charging in the 1st quarter valued at approximately $48,000. Finally, PFG Investments LLC purchased a new position in shares of Blink Charging in the 1st quarter valued at approximately $53,000. 44.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. B. Riley raised shares of Blink Charging to a “hold” rating in a research report on Tuesday, June 25th. UBS Group reduced their price target on shares of Blink Charging from $7.00 to $4.50 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Needham & Company LLC reduced their price target on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus reduced their price target on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Benchmark assumed coverage on shares of Blink Charging in a research report on Wednesday, July 31st. They set a “buy” rating and a $5.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Blink Charging Price Performance

Shares of NASDAQ BLNK opened at $2.10 on Monday. The stock has a market capitalization of $212.23 million, a price-to-earnings ratio of -0.73 and a beta of 2.73. Blink Charging Co. has a 12 month low of $1.89 and a 12 month high of $5.37. The firm’s 50 day simple moving average is $2.90 and its 200-day simple moving average is $2.89.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The firm had revenue of $33.26 million for the quarter, compared to analyst estimates of $38.90 million. Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. Blink Charging’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) EPS. Analysts anticipate that Blink Charging Co. will post -0.4 earnings per share for the current fiscal year.

Blink Charging 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.