Blink Charging Co. (NASDAQ:BLNK) Receives $3.00 Average Target Price from Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK) have earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $3.00.

BLNK has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Blink Charging from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th.

Blink Charging Stock Up 1.0%

Shares of Blink Charging stock opened at $0.61 on Friday. The firm has a market capitalization of $87.33 million, a P/E ratio of -0.91 and a beta of 2.03. Blink Charging has a 52 week low of $0.45 and a 52 week high of $2.65. The firm’s 50 day moving average is $0.75 and its two-hundred day moving average is $0.73.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Monday, May 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $20.78 million for the quarter, compared to analyst estimates of $21.70 million. Blink Charging had a negative net margin of 73.75% and a negative return on equity of 83.40%. As a group, research analysts expect that Blink Charging will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

Hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP grew its position in shares of Blink Charging by 58.8% during the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after acquiring an additional 10,851 shares during the last quarter. State of Wyoming purchased a new position in Blink Charging in the 4th quarter valued at $29,000. J. Derek Lewis & Associates Inc. acquired a new position in Blink Charging in the 4th quarter valued at $30,000. R Squared Ltd acquired a new position in Blink Charging in the 3rd quarter valued at $31,000. Finally, Squarepoint Ops LLC acquired a new position in Blink Charging in the 3rd quarter valued at $33,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

About Blink Charging

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.