Blink Charging Co. (BLNK) Short Interest Increase Raises New Worries

In the period that ended January 31, 2019, short interest in Blink Charging Co. (NASDAQ:BLNK) stock is on the rise. The 101.69% advance could be an indication that investors and traders expect a deterioration in the stock price, often as a result of a deterioration in the business’ fundamentals. The average analyst recommendations at 2 suggests buying these shares. Between January 15 and January 31, the total number of shorted shares amounted to 896.77 thousand shares. That was 452,139 more shares than the total of 444.63 thousand shares in the space of prior two weeks, which means more traders or funds betting that the stock will go down. Average daily volume for BLNK at the January 31st settlement jumped to 2,025,467, as compared to 231,260 at the January 15th report. That brought days to cover to 1, a 47.99% decrease from the 1.922624 days to cover recorded at the prior short interest data release.

Blink Charging Co. (BLNK) will probably climb 101.61 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $5 price as 12-month high target. This represents a whopping 101.61 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $5, which represents a return potential of 101.61 percent when compared to the closing price of the stock of $2.48 on Wednesday, February 13. The lowest price target for the stock is $5 — slightly more than 101.61 percent from BLNK’s current share price.

The stock is currently hovering around the first support level of $2.25. Below this, the next support is placed in the zone of $2.02. Till the time, the BLNK stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 64.02 on daily chart, which may remain a cause for concern. If the price breaks below $2.02 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $2.6 mark may result into a pull-back move towards $2.72 level.

On 13th of February, Blink Charging Co. (NASDAQ:BLNK) shares ended higher after a volatile session. The shares accumulated 0.31 points or 14.29 percent at $2.48 with a light trade volume of 1.55 million shares. After opening the session at $2.2, the shares went as high as $2.49 and as low as $2.14, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $62.32 million and now has 25.13 million shares outstanding. Blink Charging Co. (BLNK) stock has gained 34.78 percent of market value in 21 trading days.

BLNK stock has a trailing 3-year beta of 3.36, offering the possibility of a higher rate of return, but also posing more risk. The portion of a company’s profit allocated to each outstanding share of common stock was $2.65 a share in the trailing twelve months. The stock’s value has surged 44.19 percent year to date (YTD) against a decline of -71.82 percent in 12 month’s time. The company’s shares still trade -73.04 percent away from its 1-year high of $9.20 and 93.75 percent up from 52-week low of $1.28. The average consensus rating on the company is 2, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a buy.

Shares of Blink Charging Co. (BLNK) are trading at a P/E ratio of 0.82 times earnings reported for the past 12 months. The industry BLNK operates in has an average P/E of 29.52. Its P/E ratio went as low as 0X and as high as 0 over the 5-year span. Further, it is sporting a 24.93 on the Price-to-Sales ratio. Compare this with the industry average P/S of 4.15. 35.1 percent is the gross profit margin for Blink Charging Co. and operating margin sits at 0 percent. Along with this, the net profit margin is 0 percent.

Let’s take a look at some insider activity at Blink Charging Co. (NASDAQ:BLNK) and see the pattern. The earliest insider trade took place on 12/03/2018. Engel Donald gathered a total of 45 thousand shares of company at average share price of $2.2. The total for the purchase was set at $99 thousand. After this transaction, the Director account balance stood at 374.31 thousand shares. The stock grew 12.73 percent since that insider purchase.