Blink Charging (NASDAQ:BLNK) Lowered to “Hold” Rating by Needham & Company LLC

Needham & Company LLC lowered shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat Ratings reports.

BLNK has been the topic of a number of other reports. UBS Group lowered Blink Charging from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.00 to $2.00 in a report on Thursday, November 14th. Stifel Nicolaus decreased their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, August 12th. HC Wainwright decreased their price objective on Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Blink Charging in a report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Blink Charging currently has an average rating of “Hold” and a consensus price target of $5.64.

Blink Charging Trading Down 1.9 %

BLNK opened at $1.55 on Tuesday. Blink Charging has a 1-year low of $1.50 and a 1-year high of $4.48. The stock’s fifty day simple moving average is $1.88 and its 200 day simple moving average is $2.45. The stock has a market cap of $156.83 million, a PE ratio of -1.03 and a beta of 2.65.

Insider Buying and Selling at Blink Charging

In other news, Director Kristina A. Peterson sold 24,077 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $1.80, for a total transaction of $43,338.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack Levine bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $1.70 per share, with a total value of $34,000.00. Following the purchase, the director now directly owns 175,718 shares of the company’s stock, valued at $298,720.60. This trade represents a 12.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BCGM Wealth Management LLC bought a new stake in Blink Charging during the second quarter worth $27,000. Hsbc Holdings PLC bought a new stake in shares of Blink Charging during the 2nd quarter valued at $29,000. Principal Financial Group Inc. bought a new stake in shares of Blink Charging during the 2nd quarter valued at $30,000. Victory Capital Management Inc. bought a new stake in shares of Blink Charging during the 2nd quarter valued at $33,000. Finally, DRW Securities LLC bought a new stake in shares of Blink Charging during the 3rd quarter valued at $33,000. Hedge funds and other 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.