Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Cuts Stock Position in Blink Charging Co. (NASDAQ:BLNK)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its position in Blink Charging Co. (NASDAQ:BLNKGet Rating) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 38,156 shares of the company’s stock after selling 765 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Blink Charging were worth $676,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in Blink Charging by 5,666.7% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,730 shares of the company’s stock worth $29,000 after purchasing an additional 1,700 shares during the last quarter. Activest Wealth Management purchased a new stake in Blink Charging during the 3rd quarter worth approximately $34,000. Lazard Asset Management LLC purchased a new stake in Blink Charging during the 2nd quarter worth approximately $52,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Blink Charging during the 2nd quarter worth approximately $58,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Blink Charging during the 1st quarter worth approximately $103,000. Hedge funds and other institutional investors own 27.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLNK. DA Davidson dropped their target price on shares of Blink Charging to $14.00 in a research report on Tuesday, November 15th. Needham & Company LLC decreased their price objective on shares of Blink Charging from $27.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. Cowen decreased their price objective on shares of Blink Charging to $16.00 in a research note on Tuesday, November 15th. Finally, B. Riley decreased their price objective on shares of Blink Charging from $15.00 to $14.00 in a research note on Monday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blink Charging presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Blink Charging Price Performance

BLNK opened at $13.15 on Friday. The firm has a fifty day moving average price of $12.64 and a 200 day moving average price of $16.56. Blink Charging Co. has a 1 year low of $9.85 and a 1 year high of $29.99. The stock has a market cap of $668.87 million, a P/E ratio of -7.15 and a beta of 3.05.

Blink Charging (NASDAQ:BLNKGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.01. Blink Charging had a negative net margin of 177.24% and a negative return on equity of 30.97%. The firm had revenue of $17.25 million during the quarter, compared to analysts’ expectations of $15.15 million. Equities analysts expect that Blink Charging Co. will post -1.64 EPS for the current year.

Insider Activity at Blink Charging

In other news, Director Jack Levine bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The stock was purchased at an average cost of $10.22 per share, for a total transaction of $102,200.00. Following the purchase, the director now directly owns 131,641 shares in the company, valued at approximately $1,345,371.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 16.90% of the company’s stock.

Blink Charging Company Profile

(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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Institutional Ownership by Quarter for Blink Charging (NASDAQ:BLNK)

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