Blink Charging (NASDAQ:BLNK) Earns “Sell (D-)” Rating from Weiss Ratings

Blink Charging (NASDAQ:BLNK)‘s stock had its “sell (d-)” rating reiterated by analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research report on Tuesday, August 19th. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Blink Charging in a research report on Tuesday, August 19th. Finally, Barclays decreased their target price on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.13.

Blink Charging Stock Performance

Blink Charging stock opened at $2.16 on Tuesday. The business’s 50-day simple moving average is $1.40 and its 200-day simple moving average is $1.04. The firm has a market capitalization of $226.17 million, a PE ratio of -1.03 and a beta of 3.54. Blink Charging has a 52 week low of $0.63 and a 52 week high of $2.65.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP boosted its holdings 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 acquiring an additional 10,851 shares in the last quarter. Cerity Partners LLC acquired a new position in Blink Charging during the 1st quarter worth $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in Blink Charging during the 1st quarter worth $30,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Blink Charging during the 1st quarter worth $35,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in Blink Charging during the 2nd quarter worth $42,000. 44.64% of the stock is owned by institutional investors and hedge funds.

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.