Blink Charging Co. (NASDAQ:BLNK) Given Average Recommendation of “Hold” by Brokerages

Blink Charging Co. (NASDAQ:BLNK) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $2.47.

A number of equities analysts have commented on the company. HC Wainwright reduced their target price on Blink Charging from $8.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Stifel Nicolaus reduced their target price on Blink Charging from $2.00 to $1.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Benchmark cut their price target on 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, Roth Mkm reaffirmed a “buy” rating and issued a $3.00 price target (down previously from $4.00) on shares of Blink Charging in a report on Friday, March 14th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Blink Charging by 20.1% in the first quarter. Invesco Ltd. now owns 1,185,794 shares of the company’s stock worth $1,088,000 after acquiring an additional 198,350 shares during the period. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 116,758 shares during the period. AQR Capital Management LLC grew its position in Blink Charging by 8,386.8% in the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock worth $812,000 after acquiring an additional 873,989 shares during the period. Northern Trust Corp boosted its position in shares of Blink Charging by 1.7% during the fourth quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock worth $1,104,000 after buying an additional 13,336 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Blink Charging during the first quarter worth $506,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Blink Charging Trading Up 2.1%

Shares of BLNK stock opened at $0.97 on Wednesday. The company has a market capitalization of $99.18 million, a P/E ratio of -0.64 and a beta of 3.28. The business’s 50 day moving average is $0.76 and its two-hundred day moving average is $1.10. 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 earnings results on Monday, May 12th. The company reported ($0.18) 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 firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $27.60 million. On average, research analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

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.