Blink Charging’s (BLNK) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Blink Charging (NASDAQ:BLNK) in a report published on Friday,Benzinga reports. They currently have a $8.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the company. Barclays decreased their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. UBS Group dropped their target price on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Blink Charging in a research report on Friday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.39.

Blink Charging Stock Up 6.0 %

NASDAQ BLNK opened at $0.95 on Friday. The firm has a market cap of $96.54 million, a price-to-earnings ratio of -0.63 and a beta of 2.86. The business has a 50-day moving average price of $1.19 and a 200-day moving average price of $1.55. Blink Charging has a twelve month low of $0.87 and a twelve month high of $3.75.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $30.77 million. During the same period in the prior year, the company earned ($0.28) earnings per share. The firm’s revenue was down 29.3% on a year-over-year basis. Research analysts expect that Blink Charging will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Blink Charging by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after buying an additional 222,949 shares during the last quarter. Barclays PLC boosted its holdings in shares of Blink Charging by 238.4% during the 3rd quarter. Barclays PLC now owns 173,704 shares of the company’s stock worth $299,000 after purchasing an additional 122,367 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Blink Charging during the 3rd quarter worth approximately $48,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Blink Charging by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock worth $1,409,000 after purchasing an additional 79,969 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Blink Charging during the 3rd quarter worth approximately $90,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Company Profile

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.