Blink Charging’s (BLNK) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Blink Charging (NASDAQ:BLNK) in a research note issued to investors on Tuesday morning,Benzinga reports.

BLNK has been the subject of a number of other reports. Barclays cut their price target on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, July 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a report on Tuesday. Finally, Stifel Nicolaus cut their price target on Blink Charging from $2.00 to $1.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.13.

Blink Charging Price Performance

Blink Charging stock opened at $0.91 on Tuesday. Blink Charging has a one year low of $0.63 and a one year high of $2.32. The business has a fifty day moving average price of $0.96 and a 200-day moving average price of $0.91. The firm has a market capitalization of $95.29 million, a P/E ratio of -0.43 and a beta of 2.96.

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

Institutional Investors Weigh In On Blink Charging

Several hedge funds have recently added to or reduced their stakes in BLNK. Engineers Gate Manager LP lifted its stake in shares of Blink Charging by 58.8% in the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after acquiring an additional 10,851 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Blink Charging in the 2nd quarter valued at about $60,000. Marshall Wace LLP bought a new stake in shares of Blink Charging in the 2nd quarter valued at about $119,000. XTX Topco Ltd bought a new stake in shares of Blink Charging in the 2nd quarter valued at about $384,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Blink Charging by 62.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company’s stock valued at $57,000 after acquiring an additional 23,438 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

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.