Stifel Nicolaus Has Lowered Expectations for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK) had its price target reduced by Stifel Nicolaus from $3.50 to $2.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 113.13% from the stock’s current price.

A number of other brokerages have also commented on BLNK. Roth Mkm reissued a “buy” rating and issued a $3.00 price target (down previously from $4.00) on shares of Blink Charging in a report on Friday, March 14th. Benchmark lowered their price target on Blink Charging from $5.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a report on Friday, March 14th. Barclays reduced their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Blink Charging in a research report on Friday, March 14th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Blink Charging has an average rating of “Hold” and an average price target of $3.17.

Blink Charging Stock Performance

Shares of BLNK stock opened at $0.94 on Wednesday. The company has a market capitalization of $94.94 million, a PE ratio of -0.62 and a beta of 2.86. Blink Charging has a 52-week low of $0.87 and a 52-week high of $3.75. The business’s fifty day moving average is $1.09 and its 200 day moving average is $1.51.

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

Institutional Trading of Blink Charging

A number of institutional investors have recently modified their holdings of BLNK. Man Group plc bought a new position in Blink Charging during the 4th quarter valued at approximately $626,000. Geode Capital Management LLC increased its stake in shares of Blink Charging by 10.7% during the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after buying an additional 222,949 shares during the period. Stifel Financial Corp raised its holdings in shares of Blink Charging by 14.7% during the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock valued at $2,419,000 after acquiring an additional 180,027 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Blink Charging by 19.4% during the fourth quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock valued at $1,373,000 after acquiring an additional 160,251 shares in the last quarter. Finally, Caption Management LLC purchased a new stake in Blink Charging in the fourth quarter worth $180,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.