UBS Group Issues Pessimistic Forecast for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK) had its price objective dropped by equities research analysts at UBS Group from $2.00 to $1.70 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 45.30% from the stock’s previous close.

A number of other brokerages also recently issued reports on BLNK. Needham & Company LLC reaffirmed a “buy” rating on shares of Blink Charging in a research report on Wednesday, January 15th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.60.

Blink Charging Stock Performance

Shares of BLNK opened at $1.17 on Monday. The company has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.92. Blink Charging has a fifty-two week low of $1.15 and a fifty-two week high of $3.75. The stock has a market capitalization of $118.38 million, a PE ratio of -0.77 and a beta of 2.61.

Hedge Funds Weigh In On Blink Charging

A number of institutional investors and hedge funds have recently modified their holdings of BLNK. American Century Companies Inc. boosted its stake in Blink Charging by 63.4% in the second quarter. American Century Companies Inc. now owns 72,840 shares of the company’s stock valued at $200,000 after acquiring an additional 28,265 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Blink Charging during the second quarter worth about $29,000. AQR Capital Management LLC lifted its position in Blink Charging by 224.9% in the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after purchasing an additional 557,336 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Blink Charging by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,469 shares of the company’s stock valued at $103,000 after buying an additional 16,549 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Blink Charging by 49.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 106,864 shares of the company’s stock worth $293,000 after acquiring an additional 35,387 shares during the period. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.