Uncovering Institutional Buying In Blink Charging Co. (NASDAQ: BLNK)

DE Stock
DE Stock

BlackRock Fund Advisors recently announced the acquisition of new stake in Blink Charging Co. (NASDAQ:BLNK). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.92% to 0.4 million shares with purchase of 18570.0 shares. This fresh investment now brings its stake to 1.41% valued currently at $4.38 million. In addition, Citadel Advisors LLC raised its holdings by 10718.0 to 40582.0 shares.

With over 3.4 million Blink Charging Co. (BLNK) shares trading Monday and a closing price of $7.03 on the day, the dollar volume was approximately $23.87 million. The shares have shown a negative weekly performance of -12.89% and its price on 08/31/20 lost nearly -3.70%. Currently, there are 28.33M common shares owned by the public and among those 26.18M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for BLNK have a consensus price objective of $6.50. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Blink Charging Co. stock is 2.50 for the next 12 months. The average price target is -8.15% below its last price level and a downside to the estimated low will see the stock lose -40.6% over that period. But an upside of 12.12% will see the stock hit the forecast high price target while mean target price for the stock is $6.50.

Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 153,074 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in Blink Charging Co. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and iShares Tr. – Micro Cap ETF. Vanguard Total Stock Market Index owns 0.52 million shares of the company’s stock, all valued at over $5.76 million. Vanguard Extended Market Index Fu bought 8800.0 shares to see its total holdings expand to 0.21 million shares valued at over $2.32 million and representing 0.75% of the shares outstanding. iShares Tr. – Micro Cap ETF now owns shares totaling to 0.20% of the shares outstanding.

Shares of Blink Charging Co. (NASDAQ: BLNK) opened at $7.186, down -$0.11 from a prior closing price of $7.30. However, the script later closed the day at $7.03, down -3.70%. The company’s stock has a 5-day price change of -12.89% and 294.94% over the past three months. BLNK shares are trading 277.96% year to date (YTD), with the 12-month market performance up to 174.61% higher. It has a 12-month low price of $1.25 and touched a high of $14.58 over the same period. Currently, 3.4 million shares have been traded, compared to an average intraday trading volume of 8.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -28.17%, -7.56%, and 107.61% respectively.

Institutional ownership of Blink Charging Co. (NASDAQ: BLNK) shares accounts for 4.90% of the company’s 28.33M shares outstanding. Mutual fund holders own 26.61%, while other institutional holders and individual stakeholders account for 3.38% and 2.16% respectively.

It has a market capitalization of $215.33M and a beta (3y monthly) value of 2.69. The earnings-per-share (ttm) stands at -$0.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.99% over the week and 13.33% over the month.

Analysts forecast that Blink Charging Co. (BLNK) will achieve an EPS of -$0.09 for the current quarter, -$0.09 for the next quarter and -$0.28 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.09. Comparatively, EPS for the current quarter was -$0.1 a year ago. Earnings per share for the fiscal year are expected to increase by 71.70%, and 28.20% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Blink Charging Co. (BLNK) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the BLNK, a number of firms have released research notes about the stock. H.C. Wainwright stated their Neutral rating for the stock in a research note on August 14, 2020, with the firm’s price target at.


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