Blink Charging (NASDAQ:BLNK) Price Target Cut to $1.00 by Analysts at Stifel Nicolaus

Blink Charging (NASDAQ:BLNK) had its price target lowered by Stifel Nicolaus from $2.00 to $1.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

BLNK has been the subject of a number of other reports. HC Wainwright cut their price objective on shares of Blink Charging from $8.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Roth Mkm reaffirmed a “buy” rating and set a $3.00 price objective (down from $4.00) on shares of Blink Charging in a report on Friday, March 14th. Benchmark cut their price objective on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Blink Charging in a report on Tuesday, May 13th. Finally, Barclays cut their target price on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Five investment 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 currently has a consensus rating of “Hold” and a consensus target price of $2.47.

Blink Charging Trading Up 4.5%

Blink Charging stock opened at $0.75 on Tuesday. The firm has a 50 day moving average of $0.79 and a 200 day moving average of $1.15. The firm has a market capitalization of $77.35 million, a price-to-earnings ratio of -0.50 and a beta of 3.34. Blink Charging has a 12-month low of $0.63 and a 12-month high of $3.75.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The company had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $27.60 million. On average, analysts predict that Blink Charging will post -0.64 EPS for the current year.

Institutional Trading of Blink Charging

A number of institutional investors have recently bought and sold shares of BLNK. Swedbank AB lifted its position in Blink Charging by 45.2% in the fourth quarter. Swedbank AB now owns 327,552 shares of the company’s stock worth $455,000 after buying an additional 102,036 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Blink Charging by 14.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company’s stock worth $1,301,000 after buying an additional 116,758 shares during the last quarter. Intech Investment Management LLC lifted its position in Blink Charging by 59.5% in the fourth quarter. Intech Investment Management LLC now owns 48,569 shares of the company’s stock worth $68,000 after buying an additional 18,110 shares during the last quarter. American Century Companies Inc. lifted its position in Blink Charging by 8.4% in the fourth quarter. American Century Companies Inc. now owns 130,783 shares of the company’s stock worth $182,000 after buying an additional 10,123 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Blink Charging by 30.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 291,675 shares of the company’s stock worth $405,000 after buying an additional 68,027 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors.

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.