Blink Charging (NASDAQ:BLNK) Issues Quarterly Earnings Results

Blink Charging (NASDAQ:BLNK) issued its earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.02, Briefing.com reports. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. During the same period in the prior year, the business posted ($0.28) earnings per share. The firm’s revenue for the quarter was down 29.3% compared to the same quarter last year.

Blink Charging Price Performance

Shares of NASDAQ BLNK traded down $0.08 on Thursday, hitting $0.90. The company’s stock had a trading volume of 7,558,142 shares, compared to its average volume of 4,973,139. Blink Charging has a 12-month low of $0.87 and a 12-month high of $3.75. The company has a market capitalization of $91.09 million, a price-to-earnings ratio of -0.60 and a beta of 2.86. The stock has a 50 day moving average of $1.22 and a 200-day moving average of $1.57.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BLNK. UBS Group lowered their target price on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Barclays lowered their target price on shares of 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. Finally, Needham & Company LLC restated a “buy” rating on shares of Blink Charging in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.09.

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.