Blink Charging Co. (NASDAQ:BLNK) Receives $2.61 Consensus Target Price from Brokerages

Blink Charging Co. (NASDAQ:BLNK) has received a consensus rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $2.61.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Blink Charging from $3.50 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, March 26th. HC Wainwright decreased their price target on shares of Blink Charging from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Barclays lowered their price objective on shares of 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. UBS Group cut their price objective on Blink Charging from $1.00 to $0.80 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Blink Charging in a research note on Tuesday, May 13th.

Blink Charging Stock Down 2.2%

Shares of Blink Charging stock opened at $0.73 on Friday. Blink Charging has a fifty-two week low of $0.63 and a fifty-two week high of $3.75. The business’s fifty day moving average is $0.82 and its two-hundred day moving average is $1.20. The firm has a market cap of $75.08 million, a PE ratio of -0.48 and a beta of 3.34.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Monday, May 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The business had revenue of $20.75 million during the quarter, compared to analyst estimates of $27.60 million. Equities research analysts anticipate that Blink Charging will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in shares of Blink Charging during the 4th quarter valued at about $43,000. Cerity Partners LLC acquired a new stake in Blink Charging in the first quarter valued at approximately $30,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Blink Charging during the first quarter valued at approximately $30,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Blink Charging during the first quarter worth $35,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Blink Charging during the fourth quarter worth $57,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.