Blink Charging Co. (NASDAQ:BLNK) Given Average Recommendation of “Moderate Buy” by Analysts

Blink Charging Co. (NASDAQ:BLNK) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.00.

BLNK has been the topic of a number of recent analyst reports. DA Davidson reiterated a “neutral” rating and issued a $5.00 price objective on shares of Blink Charging in a report on Friday, March 15th. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Blink Charging in a research note on Friday, March 15th. HC Wainwright dropped their price target on Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Finally, Roth Mkm dropped their price target on Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 15th.

Blink Charging Stock Performance

BLNK opened at $2.57 on Friday. Blink Charging has a one year low of $2.18 and a one year high of $8.32. The company has a market cap of $259.55 million, a P/E ratio of -0.80 and a beta of 2.77. The business’s 50-day simple moving average is $2.90 and its 200-day simple moving average is $2.97.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.12. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. The business had revenue of $42.71 million for the quarter, compared to the consensus estimate of $43.63 million. As a group, analysts predict that Blink Charging will post -0.84 earnings per share for the current fiscal year.

Institutional Trading of Blink Charging

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in Blink Charging during the 1st quarter worth approximately $25,000. Russell Investments Group Ltd. acquired a new stake in Blink Charging during the 2nd quarter worth approximately $27,000. Clearstead Advisors LLC lifted its holdings in shares of Blink Charging by 2,961.0% in the 3rd quarter. Clearstead Advisors LLC now owns 9,183 shares of the company’s stock valued at $28,000 after buying an additional 8,883 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Blink Charging in the 1st quarter valued at approximately $31,000. Finally, FMR LLC lifted its holdings in shares of Blink Charging by 1,272.8% in the 3rd quarter. FMR LLC now owns 9,980 shares of the company’s stock valued at $31,000 after buying an additional 9,253 shares during the period. 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.