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

Needham & Company LLC reissued their buy rating on shares of Blink Charging (NASDAQ:BLNK) in a research note published on Wednesday, Benzinga reports. They currently have a $7.00 price target on the stock.

Several other equities analysts also recently issued reports on BLNK. Roth Mkm decreased their price objective on shares of Blink Charging from $25.00 to $12.00 and set a buy rating on the stock in a report on Friday, March 15th. HC Wainwright lowered their price objective on Blink Charging from $25.00 to $15.00 and set a buy rating on the stock in a report on Monday, March 18th. Finally, DA Davidson reissued a neutral rating and set a $5.00 target price on shares of Blink Charging in a report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $9.00.

Blink Charging Stock Up 0.4 %

BLNK stock opened at $2.38 on Wednesday. Blink Charging has a 52-week low of $2.18 and a 52-week high of $7.82. The company’s 50-day simple moving average is $2.90 and its 200-day simple moving average is $2.95. The firm has a market cap of $240.36 million, a P/E ratio of -0.74 and a beta of 2.77.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.12. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. The company had revenue of $42.71 million for the quarter, compared to the consensus estimate of $43.63 million. On average, analysts anticipate that Blink Charging will post -0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd boosted its stake in Blink Charging by 861.1% during the fourth quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after buying an additional 411,763 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Blink Charging by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 2,893,783 shares of the company’s stock valued at $9,810,000 after acquiring an additional 148,789 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Blink Charging by 618.0% in the fourth quarter. Virtu Financial LLC now owns 182,283 shares of the company’s stock valued at $618,000 after purchasing an additional 156,896 shares during the period. Barclays PLC increased its position in Blink Charging by 1,195.1% during the fourth quarter. Barclays PLC now owns 1,012,273 shares of the company’s stock worth $3,431,000 after purchasing an additional 934,112 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Blink Charging by 14.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 62,522 shares of the company’s stock worth $212,000 after purchasing an additional 8,109 shares during the period. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.