Short Sellers Were Right About These 5 Stocks

3. Blink Charging Co. (NASDAQ:BLNK)

Number of Hedge Fund Holders: 11   

Float Shorted: 40%

Decline in Share Price Over Past Six Months: 31%     

Blink Charging Co. (NASDAQ:BLNK) provides electric vehicle charging equipment. The hedge fund sentiment around the stock is largely positive. At the end of the fourth quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $8.8 million in Blink Charging Co. (NASDAQ:BLNK), compared to 6 in the previous quarter worth $4.3 million.

On February 22, Needham analyst Vikram Bagri lowered the price target on Blink Charging Co. (NASDAQ:BLNK) stock to $29 from $41 but kept a Buy rating, underlining that slower long-term anticipated growth and higher than previously assumed cost of equity were the main reasons behind the target decrease.