Needham & Company LLC Reiterates Hold Rating for Blink Charging (NASDAQ:BLNK)

Blink Charging (NASDAQ:BLNK)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

BLNK has been the subject of several other research reports. 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 target 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.39.

Blink Charging Stock Up 6.0 %

Shares of NASDAQ BLNK opened at $0.95 on Friday. Blink Charging has a 52 week low of $0.87 and a 52 week high of $3.75. The business’s 50 day moving average price is $1.19 and its 200 day moving average price is $1.55. The firm has a market cap of $96.54 million, a P/E ratio of -0.63 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The firm had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The business’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) earnings per share. As a group, research analysts expect that Blink Charging will post -0.64 earnings per share for the current year.

Institutional Trading of Blink Charging

Several institutional investors have recently modified their holdings of the stock. DRW Securities LLC acquired a new stake in Blink Charging in the 3rd quarter worth about $33,000. Millennium Management LLC acquired a new stake in shares of Blink Charging in the fourth quarter worth approximately $43,000. Verition Fund Management LLC purchased a new stake in shares of Blink Charging during the third quarter worth approximately $48,000. Intech Investment Management LLC acquired a new position in Blink Charging in the 3rd quarter valued at $52,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Blink Charging in the 4th quarter valued at $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.