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

Shares of Blink Charging Co. (NASDAQ:BLNK) have been given a consensus rating of “Hold” by the seven analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $2.47.

BLNK has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a report on Tuesday, May 13th. Benchmark cut their price target on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, March 14th. UBS Group cut their price target on shares of Blink Charging from $1.00 to $0.80 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Roth Mkm reiterated a “buy” rating and set a $3.00 price target (down from $4.00) on shares of Blink Charging in a report on Friday, March 14th. Finally, Stifel Nicolaus cut their price target on shares of Blink Charging from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Tuesday, May 27th.

Blink Charging Stock Performance

Shares of Blink Charging stock opened at $0.97 on Friday. The company has a market capitalization of $99.23 million, a P/E ratio of -0.49 and a beta of 3.22. The company has a fifty day moving average of $0.82 and a 200 day moving average of $1.01. Blink Charging has a fifty-two week low of $0.63 and a fifty-two week high of $3.75.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The company had revenue of $20.75 million during the quarter, compared to analysts’ expectations of $27.60 million. Blink Charging had a negative return on equity of 39.14% and a negative net margin of 184.37%. Analysts forecast that Blink Charging will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently bought and sold shares of BLNK. Swedbank AB raised its holdings in shares of Blink Charging by 19.7% in the first quarter. Swedbank AB now owns 391,978 shares of the company’s stock worth $360,000 after buying an additional 64,426 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of 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 buying an additional 873,989 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of Blink Charging in the first quarter worth $78,000. Nuveen LLC purchased a new position in shares of Blink Charging in the first quarter worth $506,000. Finally, Invesco Ltd. raised its holdings in shares of 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 buying an additional 198,350 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.