Blink Charging Co. (NASDAQ:BLNK) Given Average Recommendation of “Hold” by Brokerages

Blink Charging Co. (NASDAQ:BLNKGet Rating) has received an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued 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 $34.63.

A number of brokerages recently issued reports on BLNK. Stifel Nicolaus lowered their price target on Blink Charging from $39.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 15th. Tudor, Pickering, Holt & Co. began coverage on Blink Charging in a research report on Thursday, April 21st. They issued a “hold” rating and a $24.00 price target for the company. Needham & Company LLC lowered their price target on Blink Charging from $41.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, February 22nd. Tudor Pickering assumed coverage on Blink Charging in a research report on Thursday, April 21st. They set a “hold” rating and a $24.00 target price for the company. Finally, Zacks Investment Research downgraded Blink Charging from a “hold” rating to a “sell” rating in a research report on Tuesday, March 15th.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Blink Charging by 5.0% during the fourth quarter. BlackRock Inc. now owns 2,469,783 shares of the company’s stock valued at $65,475,000 after buying an additional 118,403 shares during the period. State Street Corp increased its stake in shares of Blink Charging by 5.2% during the fourth quarter. State Street Corp now owns 1,228,395 shares of the company’s stock valued at $32,565,000 after buying an additional 60,421 shares during the period. Invesco Ltd. increased its stake in shares of Blink Charging by 2.8% during the third quarter. Invesco Ltd. now owns 875,078 shares of the company’s stock valued at $25,036,000 after buying an additional 23,830 shares during the period. Geode Capital Management LLC increased its stake in shares of Blink Charging by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 640,698 shares of the company’s stock valued at $16,984,000 after buying an additional 29,139 shares during the period. Finally, Credit Suisse AG increased its stake in shares of Blink Charging by 130.9% during the fourth quarter. Credit Suisse AG now owns 456,764 shares of the company’s stock valued at $12,109,000 after buying an additional 258,986 shares during the period. Hedge funds and other institutional investors own 37.12% of the company’s stock.

Shares of NASDAQ BLNK traded down $0.62 during midday trading on Friday, reaching $17.77. 5,466 shares of the stock traded hands, compared to its average volume of 701,929. The stock has a market capitalization of $756.82 million, a PE ratio of -13.40 and a beta of 3.58. Blink Charging has a one year low of $17.91 and a one year high of $49.00. The company’s 50 day moving average is $23.94 and its 200 day moving average is $27.08.

Blink Charging (NASDAQ:BLNKGet Rating) last posted its earnings results on Thursday, March 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $7.95 million for the quarter, compared to the consensus estimate of $6.20 million. Blink Charging had a negative net margin of 263.24% and a negative return on equity of 24.09%. The firm’s revenue was up 224.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, equities research analysts forecast that Blink Charging will post -1.65 earnings per share for the current fiscal year.

Blink Charging Company Profile (Get Rating)

Blink Charging Co, through its subsidiaries, owns, operates, 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.

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