Blink Charging Co. (NASDAQ: BLNK) stock fell -1.01% on Friday to $3.93 against a previous-day closing price of $3.97. With 3.47 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.16 million shares. During the session, the Engineering & Construction company that operates in wider Industrials sector, reached to the highest price of $4.0595 whereas the lowest price it dropped to was $3.8600. The 52-week range on BLNK shows that it touched its highest point at $24.23 and its lowest point at $3.46 during that stretch. It currently has a 1-year price target of $16.89. Beta for the stock currently stands at 2.74.
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 10.08%, but this was down by -26.13% over a month. Three-month performance dropped to -40.72% while six-month performance fell -49.09%. The stock lost -82.64% in the past year, while it has lost -64.18% so far this year. A look at the trailing 12-month EPS for BLNK yields -2.26 with Next year EPS estimates of -1.33. For the next quarter, that number is -0.48. This implies an EPS growth rate of -48.40% for this year and 35.40% for next year.
Float and Shares Shorts:
At present, 61.88 million BLNK shares are outstanding with a float of 54.27 million shares on hand for trading. On Aug 30, 2023, short shares totaled 15.98 million, which was 24.97% higher than short shares on Jul 30, 2023. In addition to Mr. Brendan S. Jones as the firm’s CEO, Pres & Director, Mr. Michael D. Farkas serves as its Founder.
Other institutions hold 8.70% of BLNK, in contrast to 19.80% held by mutual funds. Shares owned by individuals account for 18.49%. As the largest shareholder in BLNK with 5.25% of the stake, BlackRock Fund Advisors holds 3,358,669 shares worth 3,358,669. A second-largest stockholder of BLNK, The Vanguard Group, Inc., holds 2,589,723 shares, controlling over 4.05% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BLNK, holding 1,991,123 shares or 3.11% stake. With a 2.69% stake in BLNK, the WisdomTree Issuer Plc – WisdomTre is the largest stakeholder. A total of 1,718,229 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.53% of BLNK stock, is the second-largest Mutual Fund holder. It holds 1,617,867 shares valued at 6.37 million. Invesco WilderHill Clean Energy E holds 2.21% of the stake in BLNK, owning 1,414,625 shares worth 5.57 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 Jun 29, 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 $5.32, the average target price over the next 12 months is $15.29. Based on these targets, BLNK could surge 1172.26% to reach the target high and rise by 35.37% to reach the target low. Reaching the average price target will result in a growth of 289.06% 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 1 Buys and 15 Sells. In these transactions, 4,510 shares were bought while 510,391 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 54 over the past year. The total number of shares bought during that period was 1,538,835 while 1,538,972 shares were sold.