Blink Charging Co. (NASDAQ: BLNK) stock fell -1.97% on Thursday to $6.96 against a previous-day closing price of $7.10. With 1.32 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.07 million shares. During the session, the Engineering & Construction company that operates in wider Industrials sector, reached to the highest price of $7.14 whereas the lowest price it dropped to was $6.86. The 52-week range on BLNK shows that it touched its highest point at $26.95 and its lowest point at $6.67 during that stretch. It currently has a 1-year price target of $17.11. Beta for the stock currently stands at 2.71.
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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 down-trending over the past week, with a drop of -2.25%, but this was up by 2.50% over a month. Three-month performance dropped to -23.01% while six-month performance fell -46.09%. The stock lost -51.53% in the past year, while it has lost -36.55% so far this year. A look at the trailing 12-month EPS for BLNK yields -2.11 with Next year EPS estimates of -1.57. For the next quarter, that number is -0.49. This implies an EPS growth rate of -48.40% for this year and 17.60% for next year.
Float and Shares Shorts:
At present, 56.47 million BLNK shares are outstanding with a float of 41.25 million shares on hand for trading. On Apr 27, 2023, short shares totaled 13.85 million, which was 22.64% higher than short shares on Mar 30, 2023. In addition to Mr. Brendan S. Jones as the firm’s CEO, Pres & Director, Mr. Michael D. Farkas serves as its Founder & Director.
Through their ownership of 30.20% of BLNK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 17.36% of BLNK, in contrast to 17.06% held by mutual funds. Shares owned by individuals account for 15.62%. As the largest shareholder in BLNK with 4.94% of the stake, BlackRock Fund Advisors holds 2,981,600 shares worth 2,981,600. A second-largest stockholder of BLNK, The Vanguard Group, Inc., holds 2,482,459 shares, controlling over 4.11% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BLNK, holding 1,394,404 shares or 2.31% stake. With a 2.56% stake in BLNK, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,542,570 shares are owned by the mutual fund manager. The Invesco WilderHill Clean Energy E, which owns about 1.92% of BLNK stock, is the second-largest Mutual Fund holder. It holds 1,157,944 shares valued at 8.26 million. iShares Russell 2000 ETF holds 1.46% of the stake in BLNK, owning 882,143 shares worth 6.29 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BLNK reported revenue of $11.36M and operating income of -$21.96M. The EBITDA in the recently reported quarter was -$21.64M and diluted EPS was -$0.52.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLNK since 0 analysts follow the stock currently. 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 $7.00, the average target price over the next 12 months is $17.11. Based on these targets, BLNK could surge 618.39% to reach the target high and rise by 0.57% to reach the target low. Reaching the average price target will result in a growth of 145.83% 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.
Summary of Insider Activity:
Insiders traded BLNK stock several times over the past three months with 12 Buys and 6 Sells. In these transactions, 1,158,843 shares were bought while 456,349 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 2,218,038 while 725,923 shares were sold.