Blink Charging Co. (NASDAQ:BLNK) Sees Large Growth in Short Interest
by Jessica Moore · The Cerbat GemBlink Charging Co. (NASDAQ:BLNK – Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 18,730,049 shares, a growth of 34.0% from the March 15th total of 13,980,217 shares. Based on an average daily volume of 3,269,535 shares, the short-interest ratio is currently 5.7 days. Approximately 13.3% of the shares of the company are sold short.
Blink Charging Trading Down 1.3%
NASDAQ BLNK traded down $0.01 on Thursday, reaching $0.67. 772,923 shares of the stock were exchanged, compared to its average volume of 2,524,956. Blink Charging has a one year low of $0.45 and a one year high of $2.65. The firm has a market capitalization of $95.62 million, a PE ratio of -0.85 and a beta of 1.83. The company’s 50-day simple moving average is $0.63 and its two-hundred day simple moving average is $1.05.
Analysts Set New Price Targets
BLNK has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blink Charging in a research note on Friday, January 9th. Wall Street Zen lowered shares of Blink Charging from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Blink Charging has an average rating of “Hold” and a consensus target price of $1.95.
View Our Latest Report on Blink Charging
Institutional Investors Weigh In On Blink Charging
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its stake in Blink Charging by 296.8% during the 4th quarter. Squarepoint Ops LLC now owns 80,492 shares of the company’s stock worth $54,000 after acquiring an additional 60,208 shares during the period. Jump Financial LLC bought a new stake in Blink Charging during the 2nd quarter worth approximately $60,000. AQR Capital Management LLC raised its stake in Blink Charging by 8,386.8% during the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock worth $812,000 after acquiring an additional 873,989 shares during the period. Jefferies Financial Group Inc. bought a new stake in Blink Charging during the 3rd quarter worth approximately $164,000. Finally, Virtu Financial LLC purchased a new stake in Blink Charging during the 4th quarter valued at approximately $141,000. Institutional investors own 44.64% of the company’s stock.
Blink Charging Company Profile
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.