Analysts Set Blink Charging Co. (NASDAQ:BLNK) Target Price at $3.17

Shares of Blink Charging Co. (NASDAQ:BLNK) have received an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $3.17.

Several equities analysts recently issued reports on BLNK shares. Stifel Nicolaus lowered their price objective on Blink Charging from $3.50 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday, March 26th. Benchmark dropped their price objective 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. Barclays decreased their target price on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Blink Charging in a report on Friday, March 14th. Finally, Roth Mkm reissued a “buy” rating and set a $3.00 price objective (down from $4.00) on shares of Blink Charging in a report on Friday, March 14th.

Institutional Investors Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently made changes to their positions in BLNK. DRW Securities LLC purchased a new position in shares of Blink Charging in the third quarter worth approximately $33,000. Verition Fund Management LLC bought a new stake in shares of Blink Charging during the 3rd quarter valued at $48,000. Intech Investment Management LLC purchased a new stake in shares of Blink Charging in the 3rd quarter worth $52,000. Millennium Management LLC bought a new position in Blink Charging in the 4th quarter worth $43,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Blink Charging during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Price Performance

BLNK opened at $0.94 on Friday. The firm has a market cap of $94.69 million, a PE ratio of -0.62 and a beta of 2.86. The stock has a 50-day moving average price of $1.08 and a 200-day moving average price of $1.50. Blink Charging has a 1 year low of $0.87 and a 1 year high of $3.75.

Blink Charging (NASDAQ:BLNK) last issued its 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 net margin of 104.02% and a negative return on equity of 25.50%. The business had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $30.77 million. During the same period in the previous year, the company earned ($0.28) earnings per share. The business’s revenue for the quarter was down 29.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blink Charging will post -0.64 EPS for the current year.

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.