Blink Charging Co. (NASDAQ:BLNK) Sees Large Growth in Short Interest

Blink Charging Co. (NASDAQ:BLNK - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 24,330,000 shares, a growth of 5.8% from the December 31st total of 23,000,000 shares. Based on an average daily volume of 4,940,000 shares, the days-to-cover ratio is presently 4.9 days.

Blink Charging Stock Performance

Blink Charging stock traded down $0.02 during trading on Wednesday, reaching $1.15. 4,472,276 shares of the company's stock were exchanged, compared to its average volume of 4,496,903. The firm has a market cap of $116.36 million, a price-to-earnings ratio of -0.76 and a beta of 2.59. Blink Charging has a 52-week low of $1.14 and a 52-week high of $3.75. The company's 50-day moving average is $1.49 and its two-hundred day moving average is $1.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in Blink Charging in the 2nd quarter valued at about $29,000. DRW Securities LLC acquired a new position in shares of Blink Charging in the 3rd quarter valued at about $33,000. United Advisor Group LLC purchased a new position in shares of Blink Charging during the 3rd quarter valued at $34,000. Verition Fund Management LLC acquired a new stake in shares of Blink Charging during the 3rd quarter valued at about $48,000. Finally, Intech Investment Management LLC acquired a new position in shares of Blink Charging during the 3rd quarter worth $52,000. 44.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BLNK shares. Benchmark restated a "buy" rating and issued a $5.00 target price on shares of Blink Charging in a research note on Tuesday, November 12th. Needham & Company LLC reaffirmed a "buy" rating on shares of Blink Charging in a report on Wednesday, January 15th. UBS Group dropped their price target on Blink Charging from $2.00 to $1.70 and set a "neutral" rating for the company in a research report on Monday, January 27th. Finally, Barclays decreased their price target on Blink Charging from $3.00 to $1.50 and set an "equal weight" rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Blink Charging has an average rating of "Hold" and a consensus price target of $5.09.

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.