Victory Capital Management Inc. Makes New $33,000 Investment in Blink Charging Co. (NASDAQ:BLNK)

Victory Capital Management Inc. purchased a new stake in Blink Charging Co. (NASDAQ:BLNK) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,970 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BCGM Wealth Management LLC bought a new stake in Blink Charging in the 2nd quarter valued at approximately $27,000. Principal Financial Group Inc. bought a new stake in shares of Blink Charging in the second quarter worth $30,000. Cetera Advisors LLC boosted its holdings in Blink Charging by 36.1% during the first quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock worth $42,000 after purchasing an additional 3,673 shares during the last quarter. CWM LLC grew its position in Blink Charging by 60.2% in the second quarter. CWM LLC now owns 15,520 shares of the company’s stock valued at $43,000 after purchasing an additional 5,834 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Blink Charging in the 1st quarter valued at $48,000. 44.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blink Charging

In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total value of $43,338.60. The sale was disclosed in a filing with the SEC, which is available at this link. 6.50% of the stock is currently owned by insiders.

Blink Charging Stock Performance

Shares of BLNK opened at $1.74 on Wednesday. The firm’s 50-day simple moving average is $2.28 and its 200 day simple moving average is $2.67. The firm has a market cap of $175.84 million, a P/E ratio of -0.61 and a beta of 2.66. Blink Charging Co. has a 52 week low of $1.53 and a 52 week high of $4.66.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Blink Charging had a negative return on equity of 22.70% and a negative net margin of 108.11%. The business had revenue of $33.26 million for the quarter, compared to the consensus estimate of $38.90 million. During the same period in the prior year, the business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Blink Charging Co. will post -0.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BLNK. Stifel Nicolaus decreased their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a report on Monday, August 12th. HC Wainwright lowered their price target on Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Benchmark initiated coverage on shares of Blink Charging in a research note on Wednesday, July 31st. They issued a “buy” rating and a $5.00 target price for the company. Needham & Company LLC cut 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 note on Thursday, August 8th. Finally, B. Riley upgraded shares of Blink Charging to a “hold” rating in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

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.