Needham & Company LLC Reiterates “Buy” Rating for Blink Charging (NASDAQ:BLNK)

Needham & Company LLC reissued their buy rating on shares of Blink Charging (NASDAQ:BLNK) in a research note published on Wednesday,Benzinga reports.

Other analysts also recently issued research reports about the stock. UBS Group downgraded shares of Blink Charging from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.00 to $2.00 in a research report on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.64.

Blink Charging Price Performance

Shares of NASDAQ:BLNK opened at $1.47 on Wednesday. Blink Charging has a 52-week low of $1.38 and a 52-week high of $3.75. The company has a market capitalization of $148.73 million, a price-to-earnings ratio of -0.97 and a beta of 2.61. The company has a 50 day moving average of $1.57 and a two-hundred day moving average of $2.02.

Hedge Funds Weigh In On Blink Charging

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in Blink Charging during the second quarter worth $29,000. Victory Capital Management Inc. bought a new position in Blink Charging during the second quarter worth $33,000. DRW Securities LLC bought a new stake in Blink Charging in the third quarter valued at $33,000. United Advisor Group LLC bought a new stake in Blink Charging in the third quarter valued at $34,000. Finally, Verition Fund Management LLC bought a new stake in Blink Charging in the third quarter valued at $48,000. 44.64% of the stock is currently owned by institutional investors.

About Blink Charging

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.