Blink Charging (NASDAQ:BLNK) Rating Lowered to “Neutral” at UBS Group

Blink Charging (NASDAQ:BLNK) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $2.00 target price on the stock, down from their previous target price of $3.00. UBS Group’s price target would suggest a potential upside of 31.58% from the company’s current price.

A number of other equities research analysts have also issued reports on BLNK. Needham & Company LLC reduced their price target on Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus reduced their target price on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of Blink Charging in a report on Tuesday. Finally, HC Wainwright dropped their price objective on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.64.

Blink Charging Stock Down 5.6 %

NASDAQ:BLNK opened at $1.52 on Thursday. The company has a market cap of $153.79 million, a price-to-earnings ratio of -1.01 and a beta of 2.65. Blink Charging has a 52 week low of $1.50 and a 52 week high of $4.66. The company has a fifty day simple moving average of $1.88 and a two-hundred day simple moving average of $2.47.

Insider Activity at Blink Charging

In other news, Director Jack Levine acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $1.70 per share, with a total value of $34,000.00. Following the completion of the acquisition, the director now owns 175,718 shares of the company’s stock, valued at $298,720.60. The trade was a 12.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kristina A. Peterson sold 24,077 shares of Blink Charging stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BCGM Wealth Management LLC purchased a new stake in shares of Blink Charging in the second quarter valued at about $27,000. Hsbc Holdings PLC purchased a new stake in Blink Charging during the 2nd quarter valued at approximately $29,000. Principal Financial Group Inc. acquired a new stake in Blink Charging during the 2nd quarter worth approximately $30,000. Victory Capital Management Inc. purchased a new position in shares of Blink Charging in the 2nd quarter valued at approximately $33,000. Finally, DRW Securities LLC acquired a new position in shares of Blink Charging in the third quarter valued at approximately $33,000. 44.64% of the stock is owned by hedge funds and other 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.