Blink Charging Co. (NASDAQ:BLNK) surprises bears, looks strong going forward – Marketing Sentinel
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Blink Charging Co. (NASDAQ:BLNK) surprises bears, looks strong going forward

In the last trading session, 1,151,173 Blink Charging Co. (NASDAQ:BLNK) shares changed hands as the company’s beta touched 4.16. With the company’s per share price at $38.77 changed hands at -$0.51 or -0.01% during last session, the market valuation stood at $1.63 Billion. BLNK’s last price was a discount, traded about -66.37% off its 52-week high of $64.5. The share price had its 52-week low at $2.4, which suggests the last value was 93.81% up since then. When we look at Blink Charging Co.’s average trading volume, we note the 10-day average is 2.28 Million shares, with the 3-month average coming to 3.04 Million.

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Analysts gave the Blink Charging Co. (BLNK) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.2. If we narrow down to specifics, the data shows that none out of 5 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 1 recommended BLNK as a Hold, 4 felt it is a Buy and none rated the stock as Underweight. Blink Charging Co.’s EPS for the current quarter is expected to be -$0.16.


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Blink Charging Co. (NASDAQ:BLNK) trade information

Although BLNK has turned red as seen at the end of in last trading. With action -1.3%, the performance over the past five days has been red. The jump to weekly highs of $42.28 on Thursday, Jun 17 added 8.3% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.09%, with the 5-day performance at -0.06% in the red. However, in the 30-day time frame, Blink Charging Co. (NASDAQ:BLNK) is 0.14% up. Looking at the short shares, we see there were 12.47 Million shares sold at short interest cover period of 4.1 days.

The consensus price target for the stock as assigned by Wall Street analysts is $42, meaning bulls need an upside of 8.33% from its current market value. According to analyst projections, BLNK’s forecast low is $32 with $60 as the target high. To hit the forecast high, the stock’s price needs a +54.76% upsurge from its current level, while the stock would need to tank -17.46% for it to hit the projected low.

Blink Charging Co. (BLNK) estimates and forecasts

Data shows that the Blink Charging Co. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +10.11% over the past 6 months, a -18.64% in annual growth rate that is considerably lower than the industry average of -7.1%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Blink Charging Co. will drop -45.5%, while the growth in revenue is estimated to hit -33.3% for the next quarter. Year-over-year growth is forecast to reach 99.2% up from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $2.44 Million. 4 analysts are of the opinion that Blink Charging Co.’s revenue for the quarter ending September 01, 2021 will be $3.5 Million. The company’s revenue for the corresponding quarter a year ago was $1.57 Million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 55.4%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 37.2%. The 2021 estimates are for Blink Charging Co. earnings to decrease by -61.5%, but the outlook for the next 5-year period is at 0% per year.

Blink Charging Co. (NASDAQ:BLNK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 14.13% of Blink Charging Co. shares while 29.41% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 34.25%. There are 198 institutions holding the Blink Charging Co. stock share, with First Trust Advisors LP the top institutional holder. As of Mar 30, 2021, the company held 9.98% of the shares, roughly 2.46 Million BLNK shares worth $101.22 Million.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 6.17% or 1.52 Million shares worth $62.58 Million as of Mar 30, 2021.

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Among Mutual Funds, the top two as of May 30, 2021 were First Trust NASDAQ Transportation ETF and Vanguard Total Stock Market Index Fund. With 2201950 shares estimated at $74.87 Million under it, the former controlled 8.92% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 4.08% of the shares, roughly 1.01 Million shares worth around $41.36 Million.

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