Blink Charging Co. (NASDAQ:BLNK) finished Thursday with a subtraction of -$0.97 to close at $5.89, a downside of -14.14 percent. An average of 3,667,360 shares of common stock have been traded in the last five days. There was a fall of -$0.42 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 2,190,690 shares traded, while the 50-day average volume stands at 2,393,576.
BLNK stock has decreased by -12.09% in the last month. The company shares reached their 1-month lowest point of $5.79 on 07/27/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $5.32 and a high of $26.95 in 52 weeks. It has reached a new high 11 times so far this year and lost -46.31% or -$5.08 in price. In spite of this, the price is down -78.14% from the 52-week high.
Insider Transactions
BLNK stock investors should be aware that Blink Charging Co. (BLNK) stock had its last reported insider trading activity 43 days ago on Jun 29. In this transaction, the insider spent $350,220. Dir. Former Chairman & CEO, FARKAS MICHAEL D, disposed of 50,000 shares at a price of $5.50 on Jun 28. The insider now owns more than $275,200 worth of shares. Prior to that, Dir. Former Chairman & CEO FARKAS MICHAEL D went on to Sale 36,000 shares at $5.39 each on Jun 27. An amount of $194,148 was transacted.
Valuation Metrics
Blink Charging Co. (BLNK) stock’s beta is 2.67. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.10, the price-to-book (PB) ratio at 1.00.
Financial Health
The quick ratio of Blink Charging Co. for the three months ended June 29 was 2.50, and the current ratio was 3.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Blink Charging Co.’s EBITDA margin for the year ending June 29 is -122.39%. Its gross profit as reported stood at $14.8 million compared to revenue of $61.14 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Blink Charging Co.’s return on assets was -27.40%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$41.48 million in the quarter, while revenues of -$29.8 million were grew 45.47%. The analyst consensus anticipated Blink Charging Co.’s latest quarter earnings to come in at -$0.49 per share, but it turned out to be -$0.48, a 2.00% surprise. For the quarter, EBITDA amounted to -$36.41 million. At the end of the quarter ending June 29, Blink Charging Co.’s stock balance sheet showed total liabilities of 147.88 million. Shareholders own equity worth $63.99 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Blink Charging Co. (BLNK) price momentum. RSI 9-day as of the close on 10 August was 42.25%, suggesting the stock is Neutral, with historical volatility in this time frame at 103.25%.
As of today, BLNK’s price is $6.28 -6.66% or -$0.42 from its 5-day moving average. BLNK is currently trading -13.76% lower than its 20-day SMA and -21.68% lower than its 100-day SMA. However, the stock’s current price level is -14.64% below the SMA50 and -56.72% below the SMA200.
The stochastic %K and %D were 42.83% and 48.41%, respectively, and the average true range (ATR) was 0.49. With the 14-day stochastic at 6.85% and the average true range at 0.45, the RSI (14) stands at 44.13%. The stock has reached 0.02 on the 9-day MACD Oscillator while the 14-day reading was at 0.11.
Analyst Ratings
Barclays launched coverage on Blink Charging Co. (NASDAQ: BLNK) in its analyst report released on March 28, 2023. The firm assigned the stock an Equal weight rating. The consensus rating for Blink Charging Co. (BLNK) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BLNK, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is BLNK’s price target for the next 12 months?
Analysts predict a range of price targets between $7.00 and $50.00, with a median target of $9.50. Taking a look at these predictions, the average price target given by analysts for Blink Charging Co. (BLNK) stock is $16.00.
