Blink Charging (NASDAQ:BLNK) Price Target Cut to $5.00

Blink Charging (NASDAQ:BLNKGet Free Report) had its target price reduced by equities researchers at Needham & Company LLC from $7.00 to $5.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 77.30% from the stock’s previous close.

BLNK has been the subject of a number of other research reports. Roth Mkm decreased their price target on Blink Charging from $25.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, March 15th. HC Wainwright decreased their target price on Blink Charging from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, DA Davidson reissued a “neutral” rating and set a $5.00 price target on shares of Blink Charging in a research report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.71.

Read Our Latest Stock Report on Blink Charging

Blink Charging Trading Down 0.7 %

Blink Charging stock opened at $2.82 on Friday. Blink Charging has a 52 week low of $2.18 and a 52 week high of $7.70. The stock has a market cap of $284.79 million, a price-to-earnings ratio of -0.99 and a beta of 2.82. The company’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $2.91.

Blink Charging (NASDAQ:BLNKGet Free Report) last announced its earnings results on Thursday, March 14th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.12. Blink Charging had a negative return on equity of 25.58% and a negative net margin of 122.09%. The firm had revenue of $42.71 million for the quarter, compared to analysts’ expectations of $43.63 million. Research analysts expect that Blink Charging will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds have recently added to or reduced their stakes in BLNK. PNC Financial Services Group Inc. raised its holdings in shares of Blink Charging by 112.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock valued at $33,000 after purchasing an additional 5,761 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Blink Charging by 13.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 54,413 shares of the company’s stock worth $167,000 after purchasing an additional 6,589 shares during the period. Arkadios Wealth Advisors grew its holdings in Blink Charging by 24.8% during the first quarter. Arkadios Wealth Advisors now owns 42,667 shares of the company’s stock valued at $128,000 after purchasing an additional 8,472 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Blink Charging by 48.9% in the first quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock worth $79,000 after buying an additional 8,668 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in shares of Blink Charging by 2,961.0% during the 3rd quarter. Clearstead Advisors LLC now owns 9,183 shares of the company’s stock worth $28,000 after buying an additional 8,883 shares during the period. Institutional investors and hedge funds own 44.64% of the company’s stock.

About Blink Charging

(Get Free Report)

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.

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Analyst Recommendations for Blink Charging (NASDAQ:BLNK)

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