Principal Financial Group Inc. Invests $30,000 in Blink Charging Co. (NASDAQ:BLNK)

Principal Financial Group Inc. acquired a new stake in Blink Charging Co. (NASDAQ:BLNK) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,028 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC bought a new position in shares of Blink Charging during the fourth quarter valued at $42,000. Cetera Advisors LLC increased its position in shares of Blink Charging by 36.1% during 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 Blink Charging by 60.2% in the second quarter. CWM LLC now owns 15,520 shares of the company’s stock worth $43,000 after acquiring an additional 5,834 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Blink Charging in the first quarter worth about $48,000. Finally, Headlands Technologies LLC raised its position in shares of Blink Charging by 731.7% during the 1st quarter. Headlands Technologies LLC now owns 18,887 shares of the company’s stock valued at $57,000 after purchasing an additional 16,616 shares during the period. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLNK has been the topic of several research reports. B. Riley raised Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Needham & Company LLC lowered their price target on Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright decreased their price objective on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus dropped their target price on Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, Benchmark initiated coverage on Blink Charging in a report on Wednesday, July 31st. They issued a “buy” rating and a $5.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Blink Charging Stock Down 2.7 %

Shares of Blink Charging stock opened at $1.79 on Tuesday. Blink Charging Co. has a twelve month low of $1.53 and a twelve month high of $4.66. The business has a 50-day moving average price of $2.46 and a 200 day moving average price of $2.73. The firm has a market cap of $180.90 million, a PE ratio of -0.63 and a beta of 2.66.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The business had revenue of $33.26 million during the quarter, compared to analysts’ expectations of $38.90 million. Blink Charging had a negative return on equity of 22.70% and a negative net margin of 108.11%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business earned ($0.44) earnings per share. On average, sell-side analysts expect that Blink Charging Co. will post -0.62 EPS for the current 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.