DA Davidson Cuts Blink Charging (NASDAQ:BLNK) Price Target to $17.00

Blink Charging (NASDAQ:BLNKGet Rating) had its target price decreased by DA Davidson from $26.00 to $17.00 in a research report report published on Friday morning, The Fly reports.

A number of other equities research analysts have also recently commented on the company. 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 on the stock. Stifel Nicolaus lowered their price objective on Blink Charging from $39.00 to $30.00 and set a hold rating on the stock in a report on Tuesday, March 15th. Zacks Investment Research cut Blink Charging from a hold rating to a sell rating in a report on Tuesday, March 15th. Needham & Company LLC lowered their price objective on Blink Charging from $41.00 to $29.00 and set a buy rating on the stock in a report on Tuesday, February 22nd. Finally, Tudor, Pickering, Holt & Co. assumed coverage on Blink Charging in a report on Thursday, April 21st. They issued a hold rating and a $24.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Blink Charging has an average rating of Hold and an average target price of $32.38.

Shares of NASDAQ:BLNK traded up $2.22 during trading on Friday, reaching $17.24. 1,714,261 shares of the company’s stock traded hands, compared to its average volume of 883,348. Blink Charging has a fifty-two week low of $13.92 and a fifty-two week high of $49.00. The company has a 50-day simple moving average of $23.02 and a 200-day simple moving average of $26.55.

Blink Charging (NASDAQ:BLNKGet Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.05. Blink Charging had a negative return on equity of 28.07% and a negative net margin of 220.64%. The firm had revenue of $9.80 million for the quarter, compared to analysts’ expectations of $6.81 million. During the same period last year, the firm earned ($0.18) EPS. The company’s quarterly revenue was up 345.5% on a year-over-year basis. Sell-side analysts expect that Blink Charging will post -1.53 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its stake in Blink Charging by 14,328.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,010 shares of the company’s stock worth $27,000 after purchasing an additional 1,003 shares in the last quarter. Zullo Investment Group Inc. purchased a new stake in shares of Blink Charging during the 4th quarter valued at approximately $29,000. Rockefeller Capital Management L.P. raised its position in shares of Blink Charging by 140.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,200 shares of the company’s stock valued at $34,000 after buying an additional 700 shares during the period. First Horizon Advisors Inc. raised its position in shares of Blink Charging by 577.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,070 shares of the company’s stock valued at $46,000 after buying an additional 912 shares during the period. Finally, San Luis Wealth Advisors LLC purchased a new stake in shares of Blink Charging during the 1st quarter valued at approximately $49,000. 37.12% of the stock is currently owned by institutional investors and hedge funds.

About Blink Charging (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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