Blink Charging Co. (NASDAQ:BLNK) Receives $2.13 Consensus Target Price from Brokerages

Blink Charging Co. (NASDAQ:BLNK) has received an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $2.1333.

BLNK has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Blink Charging in a research report on Tuesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Blink Charging in a research note on Tuesday, October 14th. Barclays reduced their price target on shares of Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a report on Tuesday, August 19th.

Blink Charging Stock Down 4.7%

Shares of Blink Charging stock opened at $1.82 on Tuesday. Blink Charging has a twelve month low of $0.63 and a twelve month high of $2.65. The company’s 50 day moving average is $1.44 and its 200 day moving average is $1.06. The company has a market cap of $190.57 million, a price-to-earnings ratio of -0.87 and a beta of 3.54.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Monday, August 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $28.67 million for the quarter, compared to analysts’ expectations of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%. Sell-side analysts expect that Blink Charging will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds have recently modified their holdings of BLNK. Engineers Gate Manager LP raised its holdings in Blink Charging by 58.8% in the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after purchasing an additional 10,851 shares during the period. Bank of America Corp DE increased 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 worth $189,000 after buying an additional 12,362 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Blink Charging by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 247,250 shares of the company’s stock worth $227,000 after buying an additional 14,625 shares during the period. Ethic Inc. purchased a new position in shares of Blink Charging during the 3rd quarter valued at about $35,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Blink Charging by 62.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company’s stock valued at $57,000 after buying an additional 23,438 shares in the last quarter. Institutional investors own 44.64% of the company’s stock.

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.