Blink Charging (NASDAQ:BLNK) Upgraded at Zacks Research

Zacks Research upgraded shares of Blink Charging (NASDAQ:BLNK) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

BLNK has been the topic of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research report on Tuesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blink Charging in a research report on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research report on Tuesday, August 19th. Finally, Barclays dropped 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 research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Blink Charging currently has a consensus rating of “Hold” and a consensus target price of $2.13.

Blink Charging Stock Up 1.1%

Shares of NASDAQ BLNK opened at $1.79 on Monday. The company has a market cap of $187.43 million, a price-to-earnings ratio of -0.85 and a beta of 3.54. Blink Charging has a 12 month low of $0.63 and a 12 month high of $2.65. The business has a fifty day simple moving average of $1.49 and a 200-day simple moving average of $1.07.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP boosted its stake in Blink Charging by 58.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after purchasing an additional 10,851 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Blink Charging during the 1st quarter valued at approximately $30,000. Cerity Partners LLC bought a new stake in Blink Charging during the 1st quarter valued at approximately $30,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Blink Charging during the 1st quarter valued at approximately $35,000. Finally, Ethic Inc. bought a new stake in Blink Charging during the 3rd quarter valued at approximately $35,000. 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.