Needham & Company LLC Reiterates “Buy” Rating for Blink Charging (NASDAQ:BLNK)

Blink Charging (NASDAQ:BLNK)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They currently have a $7.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 196.61% from the company’s previous close.

BLNK has been the topic of several other research reports. DA Davidson reissued a “neutral” rating and issued a $5.00 price target on shares of Blink Charging in a report on Friday, March 15th. HC Wainwright reduced their target price on shares of 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 reduced their target price on shares of Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Blink Charging Trading Down 0.8 %

Shares of BLNK stock opened at $2.36 on Wednesday. Blink Charging has a 1 year low of $2.18 and a 1 year high of $7.70. The firm’s fifty day simple moving average is $2.89 and its 200 day simple moving average is $2.95. The firm has a market capitalization of $238.34 million, a P/E ratio of -0.73 and a beta of 2.77.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLNK. Cubist Systematic Strategies LLC bought a new position in shares of Blink Charging in the 1st quarter valued at about $25,000. Dark Forest Capital Management LP bought a new position in shares of Blink Charging in the 1st quarter valued at about $31,000. Point72 Hong Kong Ltd bought a new position in shares of Blink Charging in the 1st quarter valued at about $103,000. US Bancorp DE boosted its stake in shares of Blink Charging by 73.5% in the 1st quarter. US Bancorp DE now owns 4,090 shares of the company’s stock valued at $108,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Blink Charging in the 2nd quarter valued at about $27,000. 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.