Blink Charging (NASDAQ:BLNK) Price Target Lowered to $2.00 at Stifel Nicolaus

Blink Charging (NASDAQ:BLNK) had its price objective reduced by investment analysts at Stifel Nicolaus from $3.50 to $2.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 113.13% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Blink Charging in a research report on Friday, March 14th. Benchmark dropped their price target on Blink Charging from $5.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research note on Friday, March 14th. Barclays lowered their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, 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 report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.17.

Blink Charging Stock Performance

Shares of NASDAQ:BLNK opened at $0.94 on Wednesday. The firm has a market capitalization of $94.94 million, a P/E ratio of -0.62 and a beta of 2.86. The stock has a 50 day moving average price of $1.09 and a 200-day moving average price of $1.51. Blink Charging has a 52-week low of $0.87 and a 52-week high of $3.75.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping 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 business had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.77 million. During the same quarter in the prior year, the company earned ($0.28) earnings per share. The firm’s quarterly revenue was down 29.3% compared to the same quarter last year. On average, equities analysts forecast that Blink Charging will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLNK. Two Sigma Investments LP purchased a new position in shares of Blink Charging in the fourth quarter worth $107,000. Man Group plc bought a new stake in Blink Charging in the 4th quarter worth about $626,000. Millennium Management LLC purchased a new position in Blink Charging in the 4th quarter worth about $43,000. Deutsche Bank AG lifted its stake in Blink Charging by 23.4% during the 4th quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock valued at $137,000 after acquiring an additional 18,771 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Blink Charging during the 4th quarter valued at about $57,000. 44.64% of the stock is owned by institutional investors.

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.