During the last session, Blink Charging Co. (NASDAQ:BLNK)’s traded shares were 1.32 million, with the beta value of the company hitting 2.71. At the end of the trading day, the stock’s price was $6.96, reflecting an intraday loss of -1.97% or -$0.14. The 52-week high for the BLNK share is $26.95, that puts it down -287.21 from that peak though still a striking 4.17% gain since the share price plummeted to a 52-week low of $6.67. The company’s market capitalization is $429.92M, and the average intraday trading volume over the past 10 days was 1.42 million shares, and the average trade volume was 2.07 million shares over the past three months.
Blink Charging Co. (BLNK) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.70. BLNK has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.48.
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Blink Charging Co. (NASDAQ:BLNK) trade information
Blink Charging Co. (BLNK) registered a -1.97% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.97% in intraday trading to $6.96 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -2.25%, and it has moved by 2.50% in 30 days. Based on these gigs, the overall price performance for the year is -51.53%. The short interest in Blink Charging Co. (NASDAQ:BLNK) is 13.85 million shares and it means that shorts have 7.04 day(s) to cover.
The consensus price target of analysts on Wall Street is $17.11, which implies an increase of 59.32% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $50.00 respectively. As a result, BLNK is trading at a discount of -618.39% off the target high and -0.57% off the low.
Blink Charging Co. (BLNK) estimates and forecasts
Statistics show that Blink Charging Co. has underperformed its competitors in share price, compared to the industry in which it operates. Blink Charging Co. (BLNK) shares have gone down -46.09% during the last six months, with a year-to-date growth rate less than the industry average at -15.15% against 1.90. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 7.70% this quarter and then jump 7.80% in the quarter after that. In the rating firms’ projections, revenue will increase 68.60% compared to the previous financial year.
Revenue for the current quarter is expected to be $23.9 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $26.64 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $11.49 million and $15.38 million respectively. In this case, analysts expect current quarter sales to grow by 108.10% and then jump by 73.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 40.40%. While earnings are projected to return -48.40% in 2023.
Blink Charging Co. is due to release its next quarterly earnings between August 07 and August 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Blink Charging Co. (NASDAQ:BLNK)’s Major holders
Blink Charging Co. insiders own 16.59% of total outstanding shares while institutional holders control 30.20%, with the float percentage being 36.21%. Blackrock Inc. is the largest shareholder of the company, while 265 institutions own stock in it. As of Mar 30, 2023, the company held over 3.54 million shares (or 14.34% of all shares), a total value of $30.61 million in shares.
The next largest institutional holding, with 2.6 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.54% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $22.5 million.
Also, the Mutual Funds coming in first place with the largest holdings of Blink Charging Co. (BLNK) shares are Vanguard Total Stock Market Index Fund and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 1.28 million shares. This amounts to just over 5.21 percent of the company’s overall shares, with a $14.09 million market value. The same data shows that the other fund manager holds slightly less at 1.2 million, or about 4.87% of the stock, which is worth about $10.4 million.