Blink Charging Co. (NASDAQ:BLNK) Sees Significant Growth in Short Interest

Blink Charging Co. (NASDAQ:BLNK) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 24,330,000 shares, an increase of 5.8% from the December 31st total of 23,000,000 shares. Based on an average trading volume of 4,940,000 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Blink Charging by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after purchasing an additional 222,949 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Blink Charging by 14.7% in the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after acquiring an additional 180,027 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Blink Charging by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock valued at $1,409,000 after acquiring an additional 79,969 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Blink Charging by 224.9% in the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after purchasing an additional 557,336 shares during the last quarter. Finally, Swedbank AB grew its holdings in Blink Charging by 45.2% during the 4th quarter. Swedbank AB now owns 327,552 shares of the company’s stock worth $455,000 after acquiring an additional 102,036 shares during the period. Institutional investors and hedge funds own 44.64% of the company’s stock.

Blink Charging Stock Down 1.6 %

BLNK stock opened at $1.22 on Monday. The company has a 50-day simple moving average of $1.50 and a 200 day simple moving average of $1.88. The company has a market capitalization of $123.44 million, a P/E ratio of -0.81 and a beta of 2.61. Blink Charging has a fifty-two week low of $1.15 and a fifty-two week high of $3.75.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BLNK. Needham & Company LLC reiterated a “buy” rating on shares of Blink Charging in a research report on Wednesday, January 15th. UBS Group dropped their price target on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Blink Charging currently has a consensus rating of “Moderate Buy” and an average price target of $5.60.

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.