Two Sigma Investments LP Invests $107,000 in Blink Charging Co. (NASDAQ:BLNK)

Two Sigma Investments LP bought a new stake in Blink Charging Co. (NASDAQ:BLNK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 77,117 shares of the company’s stock, valued at approximately $107,000.

Several other hedge funds also recently made changes to their positions in BLNK. Man Group plc bought a new position in Blink Charging in the fourth quarter worth $626,000. Millennium Management LLC bought a new position in shares of Blink Charging in the 4th quarter worth about $43,000. Deutsche Bank AG increased its stake in shares of Blink Charging by 23.4% in the 4th quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock worth $137,000 after acquiring an additional 18,771 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Blink Charging during the 4th quarter valued at about $57,000. Finally, Caption Management LLC bought a new stake in Blink Charging during the fourth quarter worth about $180,000. 44.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BLNK shares. Benchmark decreased their target price on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Roth Mkm restated a “buy” rating and issued a $3.00 price target (down previously from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research note on Tuesday, May 13th. Stifel Nicolaus dropped their target price on Blink Charging from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Tuesday, May 27th. Finally, HC Wainwright cut their target price on Blink Charging from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.47.

Blink Charging Stock Down 0.9%

Shares of BLNK opened at $0.92 on Friday. Blink Charging Co. has a twelve month low of $0.63 and a twelve month high of $3.75. The company has a market capitalization of $94.58 million, a P/E ratio of -0.61 and a beta of 3.28. The firm has a 50 day moving average of $0.76 and a 200 day moving average of $1.09.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Monday, May 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The business had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $27.60 million. On average, sell-side analysts expect that Blink Charging Co. will post -0.64 EPS for the current year.

Blink Charging Company Profile

Blink Charging Co, through its subsidiaries, owns, operates, manufactures, 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.