The stock of Blink Charging Co. (NASDAQ:BLNK) increased by $0.04 on Tuesday to finish at $4.10, up 0.99 percent. The last five days have seen an average of 2,172,980 shares of common stock traded. 11 times new highs were reached in the current year, with a fall of -$6.87. The average number of shares traded over the last 20 days was 2,513,300, while the average volume over the last 50 days totaled 2,205,640.
BLNK stock dropped -35.94% since last month. On 08/29/23, the company’s shares reached a one-month low of $3.93. The stock touched a high of $24.23 on 02/02/23, after rallying from a low of $4.03 in 52 weeks. The price of BLNK stock has declined by -62.63% or -$6.87 this year, reaching a new high 11 times. Still, the stock price is down -83.08% from the 52-week high.
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Insider Transactions
BLNK stock investors should be aware that Blink Charging Co. (BLNK) stock had its last reported insider trading activity 5 days ago on Aug 25. On Aug 25, Former Director Chairman & CEO FARKAS MICHAEL D sold 26,000 shares at $4.17 each. This transaction resulted in the insider making $108,524. On Aug 24, FARKAS MICHAEL D sold 26,000 shares at a price of US$4.12. After the transaction, the insider now owns 3,170,616 shares. Dir. Former Chairman & CEO FARKAS MICHAEL D had earlier sold 26,000 shares on Aug 23 for $4.39 a share. The transaction was completed for $114,192.
Valuation Metrics
Beta for the stock is 2.77. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.70, the price-to-book (PB) ratio of 0.79.
Financial Health
For the recent quarter, Blink Charging Co.’s quick ratio was 1.80, while its current ratio was 2.50, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 29.80% percent. Based on annual data, it had gross profit of $14.8 million and revenue of $61.14 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BLNK’s return on assets (ROA) during the last 12 months has been -30.60%. There was a -34.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -42.20%.
Earnings Surprise
A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $32.84 million, while revenues rose by 65.01% to $21.67 million. EBITDA was -$36.41 million for the quarter. At the end of Blink Charging Co.’s most recent quarter, its liabilities totaled 147.88 million, while its total debt was $15.91 million. Equity owned by shareholders amounts to $63.99 million.
Technical Picture
Here’s a quick look at Blink Charging Co.’s (BLNK) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 23.08%, suggesting the stock is oversold, with a 51.66% historical volatility rate.
The stochastic %K and %D were 3.81% and 2.74% respectively, while the average true range (ATR) was 0.32. Based on the 14-day stochastic reading of 5.80%, the RSI (14) reading is 27.60%. On the 9-day MACD Oscillator, the stock is at -0.28, and the 14-day reading is at -0.72.
Analyst Ratings
In its analyst report released on March 28, 2023, Barclays began covering Blink Charging Co. (NASDAQ: BLNK). The stock was rated as an Equal weight by the brokerage firm. Analysts have assigned Blink Charging Co. (BLNK) an Hold rating. BLNK is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is BLNK’s price target for the next 12 months?
The current consensus forecast for the stock is between $5.32 and $50.00, with a median target price of $8.50. In analyzing these forecasts, the average price target given by analysts for Blink Charging Co. (BLNK) is $15.29.
