Blink Charging Co. (NASDAQ:BLNK) Receives Average Rating of “Hold” from Brokerages

Blink Charging Co. (NASDAQ:BLNK) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $3.17.

BLNK has been the topic of several research reports. UBS Group decreased their price objective on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a report on Monday, January 27th. Stifel Nicolaus decreased their target price on shares of Blink Charging from $3.50 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday. Roth Mkm restated a “buy” rating and issued a $3.00 price target (down previously from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Barclays lowered their price target on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Blink Charging in a report on Friday, March 14th.

Institutional Investors Weigh In On Blink Charging

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Blink Charging by 10.7% in the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after purchasing an additional 222,949 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Blink Charging by 14.7% in the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after purchasing an additional 180,027 shares during the period. Invesco Ltd. increased its stake in Blink Charging by 19.4% in the 4th quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock worth $1,373,000 after acquiring an additional 160,251 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Blink Charging by 14.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company’s stock valued at $1,301,000 after purchasing an additional 116,758 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Blink Charging by 1.7% during the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock valued at $1,104,000 after buying an additional 13,336 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors.

Blink Charging Price Performance

Blink Charging stock opened at $0.94 on Friday. The company has a market cap of $94.94 million, a price-to-earnings ratio of -0.62 and a beta of 2.86. The firm has a 50-day moving average of $1.09 and a 200-day moving average of $1.51. Blink Charging has a one year low of $0.87 and a one year high of $3.75.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. The firm had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The business’s quarterly revenue was down 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.28) EPS. As a group, sell-side analysts expect that Blink Charging will post -0.64 earnings per share for the current year.

Blink Charging Company Profile

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.