Blink Charging Co. (BLNK): A Technical View


As of Friday close, Blink Charging Co.’s (NASDAQ:BLNK) stock was down -$0.2, moving down -2.59 percent to $7.52. The average number of shares traded per day over the past five days has been 2,857,000 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.40 fall in that time frame. In the last twenty days, the average volume was 2,791,385, while in the previous 50 days, it was 2,296,314.

Since last month, BLNK stock retreated -31.82%. Shares of the company fell to $7.42 on 03/17/23, the lowest level in the past month. A 52-week high of $29.99 was reached on 02/02/23 after having rallying from a 52-week low of $7.53. Since the beginning of this year, BLNK’s stock price has dropped by -31.45% or -$3.45, and marked a new high 11 times. However, the stock has declined by -74.92% since its 52-week high.

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BLNK stock investors should be aware that Blink Charging Co. (BLNK) stock had its last reported insider trading activity 30 days ago on Feb 16. FARKAS MICHAEL D, the Chairman & CEO of the company, disposed of 143,634 shares for $10.81 on Feb 16. It resulted in a $1,552,684 divestment by the insider. LEVINE JACK added 10,000 shares at an average price of $10.22 on Dec 28. The insider now owns 131,641 shares following the transaction. On Sep 27, General Counsel Hillo Aviv sold 10,000 shares at $18.45 apiece. The transaction was valued at $184,500.

Valuation Metrics

The stock’s beta is 3.09. Besides these, the trailing price-to-sales (P/S) ratio of 7.61, the price-to-book (PB) ratio of 1.41.

Financial Health

In the three months ended December 30, Blink Charging Co.’s quick ratio stood at 2.00, while its current ratio was 2.70, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 24.20% percent. Based on annual data, BLNK earned $14.8 million in gross profit and brought in $61.14 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -25.60%. Return on equity (ROE) for the past 12 months was -29.50%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BLNK’s revenue rose 64.84% to $17.25 million during the quarter, while net income inched up to $22.61 million. While analysts expected Blink Charging Co. to report -$0.48 quarterly earnings, the actual figure was -$0.55 per share, beating the consensus estimate by -14.60%. During the quarter, the company generated -$23.4 million in EBITDA. The liabilities of Blink Charging Co. were 101.58 million at the end of its most recent quarter ended December 30, and its total debt was $5.49 million. The value of shareholders’ equity is $60.37 million.

Technical Picture

This quick technical analysis looks at Blink Charging Co.’s (BLNK) price momentum. With a historical volatility rate of 22.29%, the RSI 9-day stood at 17.30% on 17 March.

With respect to its five-day moving average, the current Blink Charging Co. price is down by -5.05% percent or -$0.40. At present, BLNK shares trade -28.45% below its 20-day simple moving average and -44.75% percent below its 100-day simple moving average. However, the stock is currently trading approximately -34.78% below its SMA50 and -52.79% below its SMA200.

Stochastic coefficient K was 5.33% and Stochastic coefficient D was 7.50%, while ATR was 0.62. Given the Stochastic reading of 3.19% for the 14-day period, the RSI (14) reading has been calculated as 24.93%. As of today, the MACD Oscillator reading stands at -0.37, while the 14-day reading stands at -0.74.

Analyst Ratings

Blink Charging Co. (BLNK) has been rated Hold by analysts. According to 0 brokerage firms, BLNK is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Blink Charging Co. stock as buy, with 2 recommending it as overweight.

With a median target price of $14.00, the current consensus forecast for the stock is $11.00 – $50.00. Based on these forecasts, analysts predict Blink Charging Co. (BLNK) will achieve an average price target of $21.57.


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