The stock of Blink Charging Co. (NASDAQ:BLNK) is now priced at $7.03 and the shares are -0.27 points down or -3.7% lower compared to its previous closing price of $7.3. The stock had 3.448 million contracts set over the past session. BLNK shares’ daily volume is compared to its average trading volume at 8.366 million shares. However, it has a float of 26.18 million and although its performance was -12.89% over the week, it’s one to watch. Analysts have given the BLNK stock a yearly average price target of $6.5 per share. It means the stock’s downside potential is -7.54% with the BLNK share price recently placing at $6.8 to $7.41. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are climbing into the Blink Charging Co. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the BLNK shares have risen. Short interest in the stock represents just 15.54% of its float, but the volume has raised by 721095. The volume of shorted shares rised to 4.066 million from 3.345 million shares over the last two weeks. The average intraday trading volume has been 5.522 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Blink Charging Co. (NASDAQ:BLNK) dropped by -$1.04 over the week and lost -$3.51 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.58. The stock recorded its established 52-week high on 07/30/20.
Since 03/18/20, the stock has traded to a low of $1.25 at 462.4%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.69. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Blink Charging Co.’s two-week RSI is 41.87. This suggests that the stock is neutral at the moment and that BLNK shares’ price movement remains stable. The stochastic readings are equally revealing at 12.45% meaning the BLNK share price is currently in overbought territory.
The technical chart shows that the BLNK stock will likely settle at between $7.36 and $7.69 per share. However, if the stock dips below $6.75, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.47.
Currently, the stock is trading in the red of MACD, with a reading of -0.51. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at H.C. Wainwright cut their recommendation for BLNK from Buy to Neutral in August 14 review.
The average rating for the BLNK equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking Blink Charging Co. polled by Reuters, 1 rated BLNK as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 54.1. Blink Charging Co. has its P/E ratio at 40.9, which means that the stock is currently trading at a premium relative to the 7.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Blink Charging Co. (NASDAQ:BLNK) will decrease by about -99.89%, which will see them reach $1.78 million. The company’s full-year revenues are, however, expected to increase by about 159.42%, up from $2.76 million to $7.16 million. BLNK’s expected adjusted earnings should drop almost -10% to end up at -$0.09 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 5.41% to record -$0.39/share.