Benchmark Cuts Blink Charging (NASDAQ:BLNK) Price Target to $2.00

Blink Charging (NASDAQ:BLNK) had its price target trimmed by Benchmark from $5.00 to $2.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. Barclays dropped their price objective on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Blink Charging in a research note on Friday. UBS Group dropped their price objective on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a research note on Friday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.39.

Blink Charging Trading Up 6.0 %

NASDAQ:BLNK opened at $0.95 on Friday. The firm has a market cap of $96.54 million, a price-to-earnings ratio of -0.63 and a beta of 2.86. The company’s 50-day moving average is $1.19 and its two-hundred day moving average is $1.55. Blink Charging has a 12-month low of $0.87 and a 12-month high of $3.75.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. During the same period in the prior year, the firm earned ($0.28) EPS. The firm’s quarterly revenue was down 29.3% on a year-over-year basis. On average, equities research analysts forecast that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Trading of Blink Charging

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in Blink Charging by 8.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,415 shares of the company’s stock worth $200,000 after purchasing an additional 9,551 shares in the last quarter. American Century Companies Inc. increased its position in Blink Charging by 8.4% during the 4th quarter. American Century Companies Inc. now owns 130,783 shares of the company’s stock worth $182,000 after purchasing an additional 10,123 shares in the last quarter. Bank of America Corp DE grew its position in Blink Charging by 10.0% in the fourth quarter. Bank of America Corp DE now owns 135,663 shares of the company’s stock valued at $189,000 after acquiring an additional 12,362 shares in the last quarter. Northern Trust Corp grew its position in Blink Charging by 1.7% in the fourth quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock valued at $1,104,000 after acquiring an additional 13,336 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Blink Charging by 59.5% in the fourth quarter. Intech Investment Management LLC now owns 48,569 shares of the company’s stock valued at $68,000 after acquiring an additional 18,110 shares in the last quarter. 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.