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

Shares of Blink Charging Co. (NASDAQ:BLNK) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $2.1333.

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research report on Tuesday, August 19th. Barclays lowered their target price on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, July 23rd. Stifel Nicolaus dropped their price target on Blink Charging from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research report on Tuesday, August 19th.

Institutional Investors Weigh In On Blink Charging

Hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP lifted its position in shares of Blink Charging by 58.8% in the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after purchasing an additional 10,851 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Blink Charging in the 1st quarter worth approximately $30,000. Cerity Partners LLC purchased a new stake in shares of Blink Charging in the 1st quarter worth approximately $30,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Blink Charging in the 1st quarter worth approximately $35,000. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in shares of Blink Charging in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Trading Up 4.4%

Shares of BLNK opened at $1.42 on Friday. The firm has a market capitalization of $148.69 million, a P/E ratio of -0.68 and a beta of 3.23. Blink Charging has a 12-month low of $0.63 and a 12-month high of $2.32. The firm has a fifty day moving average price of $1.06 and a 200-day moving average price of $0.92.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Monday, August 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $28.67 million for the quarter, compared to analysts’ expectations of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%. Analysts predict that Blink Charging will post -0.64 earnings per share for the current year.

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.