Blink Charging (NASDAQ:BLNK) Cut to Neutral at UBS Group

UBS Group downgraded shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a neutral rating in a research report sent to investors on Thursday, MarketBeat reports. They currently have $2.00 price objective on the stock, down from their previous price objective of $3.00.

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

Blink Charging Stock Down 5.6 %

Shares of BLNK stock opened at $1.52 on Thursday. Blink Charging has a 12-month low of $1.50 and a 12-month high of $4.66. The company has a market capitalization of $153.79 million, a PE ratio of -1.01 and a beta of 2.65. The firm has a 50 day moving average price of $1.88 and a two-hundred day moving average price of $2.47.

Insider Buying and Selling

In other news, Director Kristina A. Peterson sold 24,077 shares of Blink Charging stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total value of $43,338.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack Levine acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $1.70 per share, with a total value of $34,000.00. Following the completion of the transaction, the director now owns 175,718 shares in the company, valued at $298,720.60. The trade was a 12.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently made changes to their positions in BLNK. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Blink Charging in the first quarter valued at approximately $48,000. BNP Paribas Financial Markets boosted its holdings in shares of Blink Charging by 36.3% during the 1st quarter. BNP Paribas Financial Markets now owns 39,601 shares of the company’s stock valued at $119,000 after acquiring an additional 10,554 shares in the last quarter. SG Americas Securities LLC grew its position in Blink Charging by 48.9% during the 1st quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock worth $79,000 after acquiring an additional 8,668 shares during the last quarter. Headlands Technologies LLC increased its holdings in Blink Charging by 731.7% in the 1st quarter. Headlands Technologies LLC now owns 18,887 shares of the company’s stock worth $57,000 after purchasing an additional 16,616 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Blink Charging by 12.6% in the first quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock valued at $9,809,000 after purchasing an additional 365,098 shares during the last quarter. 44.64% of the stock is owned by 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.