Roth Mkm Reiterates “Buy” Rating for Blink Charging (NASDAQ:BLNK)

Blink Charging (NASDAQ:BLNK)‘s stock had its “buy” rating restated by equities researchers at Roth Mkm in a note issued to investors on Friday,Benzinga reports. They presently have a $3.00 target price on the stock, down from their previous target price of $4.00. Roth Mkm’s target price indicates a potential upside of 214.40% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a report on Friday. UBS Group decreased their price objective on Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a report on Monday, January 27th. Barclays decreased their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a report on Friday. Finally, Benchmark decreased their price objective on Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.39.

Blink Charging Price Performance

Shares of Blink Charging stock opened at $0.95 on Friday. Blink Charging has a 1 year low of $0.87 and a 1 year high of $3.75. The business has a 50-day moving average of $1.19 and a two-hundred day moving average of $1.55. The company has a market capitalization of $96.54 million, a P/E ratio of -0.63 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.03. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The company had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.77 million. During the same period in the prior year, the company earned ($0.28) earnings per share. The company’s revenue for the quarter was down 29.3% compared to the same quarter last year. On average, equities analysts anticipate that Blink Charging will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP bought a new position in Blink Charging in the fourth quarter valued at approximately $107,000. Man Group plc bought a new position in Blink Charging in the fourth quarter valued at approximately $626,000. Millennium Management LLC bought a new position in Blink Charging in the fourth quarter valued at approximately $43,000. Deutsche Bank AG grew its stake in Blink Charging by 23.4% in the fourth quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock valued at $137,000 after purchasing an additional 18,771 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Blink Charging in the fourth quarter valued at approximately $57,000. 44.64% of the stock is currently owned by institutional investors.

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.