Blink Charging Co. (NASDAQ:BLNK) Receives $3.00 Consensus Target Price from Brokerages

Blink Charging Co. (NASDAQ:BLNK) has received a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3.00.

A number of analysts recently weighed in on BLNK shares. Wall Street Zen raised shares of Blink Charging from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd.

Institutional Investors Weigh In On Blink Charging

Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Blink Charging by 1,256.4% during the fourth quarter. State Street Corp now owns 6,667,077 shares of the company’s stock valued at $4,447,000 after purchasing an additional 6,175,566 shares during the period. Sabby Management LLC purchased a new position in shares of Blink Charging in the fourth quarter valued at $1,418,000. Renaissance Technologies LLC boosted its stake in shares of Blink Charging by 227.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock valued at $1,703,000 after purchasing an additional 1,773,109 shares during the period. UBS Group AG boosted its stake in shares of Blink Charging by 67.9% in the third quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock valued at $3,878,000 after purchasing an additional 956,556 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Blink Charging by 8,386.8% during the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after purchasing an additional 873,989 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Blink Charging Stock Down 0.3%

Shares of BLNK stock opened at $0.55 on Thursday. Blink Charging has a fifty-two week low of $0.45 and a fifty-two week high of $2.65. The firm’s 50 day moving average price is $0.70 and its two-hundred day moving average price is $0.70. The stock has a market cap of $79.10 million, a price-to-earnings ratio of -0.82 and a beta of 2.03.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $20.78 million during the quarter, compared to analyst estimates of $21.70 million. Blink Charging had a negative net margin of 73.75% and a negative return on equity of 83.40%. On average, equities analysts forecast that Blink Charging will post -0.17 EPS for the current fiscal year.

About Blink Charging

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.