Blink Charging Co. (NASDAQ:BLNK) Receives $9.00 Consensus Target Price from Analysts

Blink Charging Co. (NASDAQ:BLNK) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $9.00.

A number of analysts have weighed in on BLNK shares. HC Wainwright reduced their price objective on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Blink Charging in a report on Wednesday, April 17th. Roth Mkm decreased their price objective on Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, DA Davidson reissued a “neutral” rating and issued a $5.00 target price on shares of Blink Charging in a report on Friday, March 15th.

Blink Charging Stock Down 2.1 %

Shares of BLNK stock opened at $2.84 on Tuesday. The firm has a market cap of $286.81 million, a P/E ratio of -0.88 and a beta of 2.82. The business has a 50-day moving average price of $2.75 and a two-hundred day moving average price of $2.90. Blink Charging has a 12-month low of $2.18 and a 12-month high of $7.70.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.12. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. The business had revenue of $42.71 million during the quarter, compared to analysts’ expectations of $43.63 million. As a group, research analysts expect that Blink Charging will post -0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Blink Charging by 35.8% in the 3rd quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock worth $6,601,000 after buying an additional 568,417 shares during the last quarter. Stifel Financial Corp increased its stake in Blink Charging by 39.0% during the third quarter. Stifel Financial Corp now owns 890,505 shares of the company’s stock worth $2,725,000 after acquiring an additional 249,810 shares during the last quarter. Quadrature Capital Ltd raised its position in Blink Charging by 861.1% during the fourth quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock valued at $1,558,000 after purchasing an additional 411,763 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Blink Charging by 179.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 252,246 shares of the company’s stock valued at $855,000 after purchasing an additional 162,109 shares during the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Blink Charging by 5.4% in the 3rd quarter. Alps Advisors Inc. now owns 238,758 shares of the company’s stock worth $731,000 after purchasing an additional 12,191 shares during the period. 44.64% of the stock is owned by 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.