Blink Charging Co. [NASDAQ: BLNK] slipped around -5.52 points on Friday, while shares priced at $47.10 at the close of the session, down -10.49%. The company report on January 13, 2021 that Blink Charging Announces Closing of Public Offering of Common Stock for Total Gross Proceeds of $232.1 Million.
Blink Charging Co. (the “Company” or “Blink”) (Nasdaq: BLNK, BLNKW), a leading owner, operator and provider of electric vehicle (EV) charging equipment and services, closed its previously announced underwritten public offering. In the offering, Blink sold 5,400,000 shares of its common stock at a public offering price of $41.00 per share, for gross proceeds of $221.4 million. The underwriters also exercised their option in full to purchase an additional 260,000 shares of common stock from the Company and 550,000 shares from the chief executive and one other officer of the Company, resulting in additional gross proceeds of approximately $10.7 million to the Company and $22.6 million to the selling stockholders. The total net proceeds to the Company, after underwriting discounts, but before estimated expenses of the offering payable by the Company, were approximately $221.6 million.
Blink intends to use the net proceeds from the offering to supplement its operating cash flows to fund EV charging station deployment and finance the costs of acquiring competitive and complementary businesses, products and technologies as a part of its growth strategy, and for working capital and general corporate purposes.
Blink Charging Co. stock is now 10.18% up from its year-to-date (YTD) trading value. BLNK Stock saw the intraday high of $52.2999 and lowest of $46.6001 per share. The company’s 52-week high price is 57.85, which means current price is +28.65% above from all time high which was touched on 01/12/21.
Compared to the average trading volume of 12.53M shares, BLNK reached a trading volume of 10385095 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Blink Charging Co. [BLNK]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLNK shares is $15.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLNK stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Blink Charging Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 14, 2020.
The Average True Range (ATR) for Blink Charging Co. is set at 6.00, with the Price to Sales ratio for BLNK stock in the period of the last 12 months amounting to 378.79. The Price to Book ratio for the last quarter was 90.58, with the Price to Cash per share for the same quarter was set at 0.41.
How has BLNK stock performed recently?
Blink Charging Co. [BLNK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.26. With this latest performance, BLNK shares gained by 66.73% in over the last four-week period, additionally plugging by 629.10% over the last 6 months – not to mention a rise of 2100.93% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLNK stock in for the last two-week period is set at 58.04, with the RSI for the last a single of trading hit 54.93, and the three-weeks RSI is set at 59.66 for Blink Charging Co. [BLNK]. The present Moving Average for the last 50 days of trading for this stock 30.12, while it was recorded at 50.97 for the last single week of trading, and 11.87 for the last 200 days.
Blink Charging Co. [BLNK]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Blink Charging Co. [BLNK] shares currently have an operating margin of -379.53 and a Gross Margin at -240.92. Blink Charging Co.’s Net Margin is presently recorded at -349.69.
Return on Total Capital for BLNK is now -85.30, given the latest momentum, and Return on Invested Capital for the company is -80.70. Return on Equity for this stock declined to -82.01, with Return on Assets sitting at -57.44. When it comes to the capital structure of this company, Blink Charging Co. [BLNK] has a Total Debt to Total Equity ratio set at 3.84. Additionally, BLNK Total Debt to Total Capital is recorded at 3.70, with Total Debt to Total Assets ending up at 2.39. Long-Term Debt to Equity for the company is recorded at 1.14, with the Long-Term Debt to Total Capital now at 1.10.
Reflecting on the efficiency of the workforce at the company, Blink Charging Co. [BLNK] managed to generate an average of -$144,007 per employee. Receivables Turnover for the company is 14.72 with a Total Asset Turnover recorded at a value of 0.16.Blink Charging Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 3.10.
Earnings analysis for Blink Charging Co. [BLNK]
With the latest financial reports released by the company, Blink Charging Co. posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -22.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BLNK.
Insider trade positions for Blink Charging Co. [BLNK]
There are presently around $278 million, or 18.00% of BLNK stock, in the hands of institutional investors. The top three institutional holders of BLNK stocks are: INVESCO LTD. with ownership of 1,879,385, which is approximately New of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 803,941 shares of the stock with an approximate value of $37.87 million in BLNK stocks shares; and AROSA CAPITAL MANAGEMENT LP, currently with $29.4 million in BLNK stock with ownership of nearly New of the company’s market capitalization.
Positions in Blink Charging Co. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 60 institutional holders increased their position in Blink Charging Co. [NASDAQ:BLNK] by around 4,501,828 shares. Additionally, 12 investors decreased positions by around 150,430 shares, while 2 investors held positions by with 1,244,713 shares. The mentioned changes placed institutional holdings at 5,896,971 shares, according to the latest SEC report filing. BLNK stock had 41 new institutional investments in for a total of 3,800,263 shares, while 9 institutional investors sold positions of 107,196 shares during the same period.