Blink Charging Co. (NASDAQ: BLNK) stock jumped 7.60% on Monday to $14.15 against a previous-day closing price of $13.15. With 1.33 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.2 million shares. During the session, the Specialty Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $14.30 whereas the lowest price it dropped to was $13.13. The 52-week range on BLNK shows that it touched its highest point at $29.99 and its lowest point at $9.85 during that stretch. It currently has a 1-year price target of $24.25. Beta for the stock currently stands at 3.19.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BLNK was up-trending over the past week, with a rise of 4.27%, but this was up by 19.71% over a month. Three-month performance surged to 3.66% while six-month performance fell -24.81%. The stock lost -35.86% in the past year, while it has gained 28.99% so far this year. A look at the trailing 12-month EPS for BLNK yields -1.83 with Next year EPS estimates of -1.89. For the next quarter, that number is -0.52. This implies an EPS growth rate of -121.40% for this year and 1.00% for next year.
Float and Shares Shorts:
At present, 50.63 million BLNK shares are outstanding with a float of 41.25 million shares on hand for trading. On Oct 13, 2022, short shares totaled 10.88 million, which was 21.40% higher than short shares on Sep 14, 2022. In addition to Mr. Michael D. Farkas as the firm’s Founder, Chairman & CEO, Mr. Brendan S. Jones serves as its Pres, COO & Director.
Through their ownership of 25.64% of BLNK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 17.63% of BLNK, in contrast to 16.71% held by mutual funds. Shares owned by individuals account for 12.35%. As the largest shareholder in BLNK with 4.48% of the stake, BlackRock Fund Advisors holds 2,276,694 shares worth 2,276,694. A second-largest stockholder of BLNK, The Vanguard Group, Inc., holds 2,084,848 shares, controlling over 4.10% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BLNK, holding 1,072,767 shares or 2.11% stake. With a 2.53% stake in BLNK, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,284,837 shares are owned by the mutual fund manager. The Invesco WilderHill Clean Energy E, which owns about 1.78% of BLNK stock, is the second-largest Mutual Fund holder. It holds 903,942 shares valued at 9.92 million. WisdomTree Issuer Plc – WisdomTre holds 1.65% of the stake in BLNK, owning 837,453 shares worth 9.19 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLNK since 7 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BLNK analysts setting a high price target of $50.00 and a low target of $12.30, the average target price over the next 12 months is $23.90. Based on these targets, BLNK could surge 253.36% to reach the target high and fall by -13.07% to reach the target low. Reaching the average price target will result in a growth of 68.9% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BLNK will report FY 2022 earnings on 03/08/2024. Analysts have provided yearly estimates in a range of -$1.70 being high and -$1.91 being low. For BLNK, this leads to a yearly average estimate of -$1.86. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Blink Charging Co. surprised analysts by $0.01 when it reported -$0.47 EPS against a consensus estimate of -$0.48. The surprise factor in the prior quarter was -$0.15. Based on analyst estimates, the high estimate for the next quarter is -$0.46 and the low estimate is -$0.53. The average estimate for the next quarter is thus -$0.49.
Summary of Insider Activity:
Insiders traded BLNK stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 10,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 819,628 while 125,940 shares were sold.