Blink Charging (NASDAQ:BLNK) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Blink Charging (NASDAQ:BLNK) in a report issued on Tuesday morning,Benzinga reports.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus reduced their price objective on Blink Charging from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. Barclays reduced their price objective on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.13.

Blink Charging Price Performance

Shares of NASDAQ:BLNK opened at $0.9301 on Tuesday. The business’s fifty day moving average price is $0.96 and its two-hundred day moving average price is $0.91. Blink Charging has a fifty-two week low of $0.63 and a fifty-two week high of $2.32. The stock has a market capitalization of $95.54 million, a price-to-earnings ratio of -0.44 and a beta of 2.96.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Monday, August 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $28.67 million during the quarter, compared to the consensus estimate of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 55.34%. Research analysts expect that Blink Charging will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

Several large investors have recently made changes to their positions in the company. Engineers Gate Manager LP lifted its stake in shares of Blink Charging by 58.8% during the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after acquiring an additional 10,851 shares during the period. Jump Financial LLC acquired a new position in shares of Blink Charging during the second quarter valued at $60,000. Marshall Wace LLP bought a new stake in Blink Charging in the second quarter valued at about $119,000. XTX Topco Ltd bought a new stake in Blink Charging in the second quarter valued at about $384,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in Blink Charging by 62.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company’s stock valued at $57,000 after purchasing an additional 23,438 shares during the last quarter. Institutional investors and hedge funds 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.