Blink Charging’s (BLNK) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Blink Charging (NASDAQ:BLNK) in a report issued on Monday morning, Benzinga reports. HC Wainwright currently has a $25.00 price objective on the stock.

Separately, UBS Group started coverage on shares of Blink Charging in a report on Wednesday, September 27th. They set a buy rating and a $7.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $11.50.

Blink Charging Stock Performance

NASDAQ:BLNK opened at $3.91 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $3.10 and a two-hundred day moving average price of $4.98. Blink Charging has a twelve month low of $2.22 and a twelve month high of $15.40. The company has a market capitalization of $263.57 million, a P/E ratio of -1.12 and a beta of 2.83.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Thursday, November 9th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.30. Blink Charging had a negative net margin of 176.07% and a negative return on equity of 32.38%. The firm had revenue of $43.38 million during the quarter, compared to the consensus estimate of $30.29 million. During the same period last year, the firm posted ($0.47) EPS. The firm’s revenue for the quarter was up 151.5% on a year-over-year basis. As a group, research analysts expect that Blink Charging will post -1.59 earnings per share for the current fiscal year.

Insider Transactions at Blink Charging

In other news, CEO Michael D. Farkas sold 26,000 shares of Blink Charging stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $4.17, for a total transaction of $108,420.00. Following the completion of the sale, the chief executive officer now directly owns 3,144,616 shares in the company, valued at $13,113,048.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael D. Farkas sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $4.17, for a total value of $108,420.00. Following the sale, the chief executive officer now directly owns 3,144,616 shares of the company’s stock, valued at $13,113,048.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael D. Farkas sold 52,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $3.04, for a total transaction of $158,080.00. Following the completion of the sale, the chief executive officer now directly owns 2,578,616 shares in the company, valued at $7,838,992.64. The disclosure for this sale can be found here. Insiders sold a total of 410,000 shares of company stock worth $1,512,120 over the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blink Charging

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Blink Charging by 10.2% in the second quarter. BlackRock Inc. now owns 3,901,082 shares of the company’s stock worth $23,367,000 after acquiring an additional 361,858 shares during the last quarter. Vanguard Group Inc. lifted its position in Blink Charging by 14.9% during the third quarter. Vanguard Group Inc. now owns 2,177,441 shares of the company’s stock valued at $38,585,000 after buying an additional 282,801 shares in the last quarter. Invesco Ltd. lifted its position in Blink Charging by 35.8% during the third quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock valued at $6,601,000 after buying an additional 568,417 shares in the last quarter. State Street Corp lifted its position in Blink Charging by 42.8% during the second quarter. State Street Corp now owns 1,991,123 shares of the company’s stock valued at $11,927,000 after buying an additional 596,719 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Blink Charging by 105.5% during the second quarter. Great West Life Assurance Co. Can now owns 1,802,815 shares of the company’s stock valued at $10,766,000 after buying an additional 925,354 shares in the last quarter. 34.98% of the stock is owned by institutional investors and hedge funds.

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.