Analysts Anticipate Blink Charging Co. (NASDAQ:BLNK) Will Post Quarterly Sales of $8.12 Million

Posted by on Jun 2nd, 2022

Analysts predict that Blink Charging Co. (NASDAQ:BLNK – Get Rating) will post $8.12 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Blink Charging’s earnings, with estimates ranging from $6.00 million to $9.80 million. Blink Charging posted sales of $4.36 million during the same quarter last year, which suggests a positive year over year growth rate of 86.2%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Blink Charging will report full-year sales of $36.25 million for the current year, with estimates ranging from $31.80 million to $38.64 million. For the next financial year, analysts expect that the firm will post sales of $59.24 million, with estimates ranging from $53.59 million to $62.36 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Blink Charging.

Blink Charging (NASDAQ:BLNK – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.05. The firm had revenue of $9.80 million for the quarter, compared to analyst estimates of $6.81 million. Blink Charging had a negative net margin of 220.64% and a negative return on equity of 28.84%. Blink Charging’s revenue was up 345.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS.

A number of equities analysts have recently commented on the company. DA Davidson lowered their price objective on Blink Charging from $26.00 to $17.00 in a research report on Friday, May 13th. Tudor, Pickering, Holt & Co. assumed coverage on Blink Charging in a research report on Thursday, April 21st. They set a “hold” rating and a $24.00 price objective for the company. Tudor Pickering assumed coverage on Blink Charging in a research report on Thursday, April 21st. They set a “hold” rating and a $24.00 price objective for the company. Stifel Nicolaus lowered their price objective on Blink Charging from $39.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 15th. Finally, Needham & Company LLC lowered their price objective on Blink Charging from $41.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, February 22nd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Blink Charging currently has a consensus rating of “Hold” and a consensus price target of $30.89.

NASDAQ BLNK opened at $15.51 on Thursday. The stock has a 50-day moving average of $20.75 and a two-hundred day moving average of $24.96. Blink Charging has a 1-year low of $13.84 and a 1-year high of $49.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLNK. Hexagon Capital Partners LLC raised its holdings in shares of Blink Charging by 14,328.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,010 shares of the company’s stock worth $27,000 after purchasing an additional 1,003 shares during the period. Zullo Investment Group Inc. acquired a new position in shares of Blink Charging in the 4th quarter worth approximately $29,000. Rockefeller Capital Management L.P. grew its position in shares of Blink Charging by 140.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,200 shares of the company’s stock worth $34,000 after acquiring an additional 700 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new position in shares of Blink Charging in the 1st quarter worth approximately $49,000. Finally, Concourse Financial Group Securities Inc. grew its position in shares of Blink Charging by 753.2% in the 1st quarter. Concourse Financial Group Securities Inc. now owns 2,005 shares of the company’s stock worth $53,000 after acquiring an additional 1,770 shares in the last quarter. Hedge funds and other institutional investors own 37.12% of the company’s stock.

About Blink Charging (Get Rating)

Blink Charging Co, through its subsidiaries, owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and internationally. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types.

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