Blink Charging Co. (NASDAQ:BLNK) Given Average Recommendation of “Hold” by Brokerages

Shares of Blink Charging Co. (NASDAQ:BLNK) have been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $3.17.

Several equities analysts have recently issued reports on BLNK shares. Barclays lowered their price target on 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. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a report on Friday, March 14th. Stifel Nicolaus dropped their price objective on shares of Blink Charging from $3.50 to $2.00 and set a “hold” rating on the stock in a research note on Wednesday, March 26th. Benchmark cut their price target on Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Finally, UBS Group decreased their price objective on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a report on Monday, January 27th.

Blink Charging Trading Up 2.6 %

BLNK stock opened at $0.94 on Friday. The firm has a 50 day simple moving average of $1.06 and a 200-day simple moving average of $1.49. The company has a market capitalization of $95.24 million, a P/E ratio of -0.62 and a beta of 2.86. Blink Charging has a twelve month low of $0.86 and a twelve month high of $3.75.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. Blink Charging’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.28) earnings per share. On average, research analysts predict that Blink Charging will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Blink Charging

Hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Blink Charging by 8.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,415 shares of the company’s stock worth $200,000 after purchasing an additional 9,551 shares in the last quarter. American Century Companies Inc. increased its position in shares of Blink Charging by 8.4% during the fourth quarter. American Century Companies Inc. now owns 130,783 shares of the company’s stock worth $182,000 after acquiring an additional 10,123 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Blink Charging by 10.0% during the fourth quarter. Bank of America Corp DE now owns 135,663 shares of the company’s stock worth $189,000 after acquiring an additional 12,362 shares during the period. Northern Trust Corp lifted its position in Blink Charging by 1.7% in the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock valued at $1,104,000 after acquiring an additional 13,336 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in Blink Charging by 59.5% in the 4th quarter. Intech Investment Management LLC now owns 48,569 shares of the company’s stock worth $68,000 after purchasing an additional 18,110 shares during the period. 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.