Is Blink Charging Co (NASDAQ: BLNK) the next life-changing stock to watch out for?

In the last trading session, 8.04 million Blink Charging Co (NASDAQ:BLNK) shares changed hands as the company’s beta touched 3.02. With the company’s per share price at $3.91 changed hands at -$0.32 or -7.57% during last session, the market valuation stood at $263.57M. BLNK’s last price was a discount, traded about -293.86% off its 52-week high of $15.40. The share price had its 52-week low at $2.22, which suggests the last value was 43.22% up since then. When we look at Blink Charging Co’s average trading volume, we note the 10-day average is 6.47 million shares, with the 3-month average coming to 2.64 million.

Analysts gave the Blink Charging Co (BLNK) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended BLNK as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Blink Charging Co’s EPS for the current quarter is expected to be -$0.33.

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Blink Charging Co (NASDAQ:BLNK) trade information

Instantly BLNK was in red as seen at the end of in last trading. With action 27.36%, the performance over the past five days has been green. The drop to weekly highs of 4.66 on Friday, 11/17/23 subtracted -7.57% to the stock’s daily price. The company’s shares are showing year-to-date downside of -64.36%, with the 5-day performance at 27.36% in the green. However, in the 30-day time frame, Blink Charging Co (NASDAQ:BLNK) is 36.24% up. Looking at the short shares, we see there were 18.62 million shares sold at short interest cover period of 10.55 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.33, meaning bulls need an upside of 58.09% from its current market value. According to analyst projections, BLNK’s forecast low is $3.00 with $25.00 as the target high. To hit the forecast high, the stock’s price needs a -539.39% plunge from its current level, while the stock would need to tank 23.27% for it to hit the projected low.

Blink Charging Co (BLNK) estimates and forecasts

Data shows that the Blink Charging Co share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -44.54% over the past 6 months, a -50.30% in annual growth rate that is considerably lower than the industry average of 11.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Blink Charging Co will rise 40.00%, while the growth in revenue is estimated to hit 37.70% for the next quarter. Year-over-year growth is forecast to reach 113.70% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $34.51 million. 6 analysts are of the opinion that Blink Charging Co’s revenue for the quarter ending Mar 2024 will be $35.95 million. The company’s revenue for the corresponding quarters a year ago was $22.61 million and $21.92 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 52.70%. The estimates for the next quarter sales put growth at 64.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 40.40%. The 2023 estimates are for Blink Charging Co earnings to decrease by -77.77%.

BLNK Dividends

Blink Charging Co is expected to release its next quarterly earnings report on November 09.

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

If we look at who the major shareholders are, we find that insiders hold 17.34% of Blink Charging Co shares while 35.10% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.47%. There are 35.10% institutions holding the Blink Charging Co stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 15.81% of the shares, roughly 3.9 million BLNK shares worth $23.37 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 10.89% or 2.69 million shares worth $16.1 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF. With 1.62 million shares estimated at $9.73 million under it, the former controlled 6.58% of total outstanding shares. On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF held about 5.81% of the shares, roughly 1.43 million shares worth around $5.65 million.

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