Bank of New York Mellon Corp Raises Holdings in Blink Charging Co. (NASDAQ:BLNK)

Bank of New York Mellon Corp raised its position in Blink Charging Co. (NASDAQ:BLNK) by 108.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 403,952 shares of the company’s stock after purchasing an additional 210,116 shares during the period. Bank of New York Mellon Corp owned 0.40% of Blink Charging worth $1,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new stake in Blink Charging in the 4th quarter valued at about $42,000. Cetera Advisors LLC grew its holdings in 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 buying an additional 3,673 shares in the last quarter. CWM LLC increased its stake in shares of Blink Charging by 60.2% in the 2nd 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 last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Blink Charging during the 1st quarter worth $48,000. Finally, Headlands Technologies LLC boosted 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 acquiring an additional 16,616 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BLNK. B. Riley upgraded shares of Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Benchmark assumed 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. Stifel Nicolaus cut their target price on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Needham & Company LLC decreased their price target on Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, HC Wainwright lowered their price target on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Blink Charging Trading Down 3.9 %

BLNK opened at $1.74 on Friday. The stock’s 50-day moving average price is $2.39 and its 200 day moving average price is $2.71. Blink Charging Co. has a 12-month low of $1.53 and a 12-month high of $4.66. The firm has a market cap of $175.84 million, a price-to-earnings ratio of -0.60 and a beta of 2.66.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (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 analyst estimates of $38.90 million. During the same period in the prior year, the company posted ($0.44) EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts forecast that Blink Charging Co. will post -0.62 earnings per share for the current year.

About Blink Charging

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.