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 Industrials company by 10.04% to 3.7 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 5.48% valued currently at $12.53 million. In addition, The Vanguard Group, Inc. raised its holdings by 47522.0 to 2.64 million shares. And SSgA Funds Management, Inc. has lifted its position by 9.98% or 0.2 million shares – to 2.19 million shares.
Currently, there are 67.41M common shares owned by the public and among those 60.69M shares have been available to trade.
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Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 1,678,835 shares. Insider sales of the common stock occurred on 74 occasions, with total insider shares sold totaling 2,414,187 shares.
The top 3 mutual fund holders in Blink Charging Co are SPDR S&P Kensho New Economies Com, Invesco WilderHill Clean Energy E, and Vanguard Total Stock Market ETF. SPDR S&P Kensho New Economies Com owns 3.99 million shares of the company’s stock, all valued at over $13.53 million. The company sold 3920.0 shares recently to bring their total holdings to about 5.92% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.40% of the shares outstanding.
The company’s stock has a 5-day price change of 1.57% and -10.10% over the past three months. BLNK shares are trading -23.89% year to date (YTD), with the 12-month market performance down to -78.99% lower. It has a 12-month low price of $2.18 and touched a high of $15.40 over the same period. BLNK has an average intraday trading volume of 7.35 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 -13.46%, -18.66%, and -46.79% respectively.
Institutional ownership of Blink Charging Co (NASDAQ: BLNK) shares accounts for 38.32% of the company’s 67.41M shares outstanding. Mutual fund holders own 22.09%, while other institutional holders and individual stakeholders account for 7.54% and 16.60% respectively.
It has a market capitalization of $173.92M and a beta (3y monthly) value of 2.80. The earnings-per-share (ttm) stands at -$3.61. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.39% over the week and 11.30% over the month.
Analysts forecast that Blink Charging Co (BLNK) will achieve an EPS of $Blink Charging Co. Common Stock for the current quarter, $2.58 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $BlackRock, Inc. while analysts give the company a high EPS estimate of $Amplify Transformational Data S. Comparatively, EPS for the current quarter was $Blend Labs, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -86.95%, and 68.62% over the next financial year.
Looking at the support for the BLNK, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on January 08, 2024, with the firm’s price target at $7.
