Blink Charging Co. (NASDAQ:BLNK) Receives Consensus Rating of “Hold” from Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK) have been given an average recommendation of “Hold” by the eight analysts that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $2.47.

A number of research analysts recently issued reports on BLNK shares. Benchmark decreased their price target on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Roth Mkm restated a “buy” rating and set a $3.00 price objective (down previously from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research report on Tuesday, May 13th. Stifel Nicolaus reduced their price target on shares of Blink Charging from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. Finally, HC Wainwright reduced their price target on shares of Blink Charging from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, May 14th.

Hedge Funds Weigh In On Blink Charging

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in Blink Charging in the 4th quarter valued at $43,000. Cerity Partners LLC acquired a new position in shares of Blink Charging during the 1st quarter worth $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Blink Charging during the 1st quarter worth $30,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Blink Charging during the 1st quarter worth $35,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Blink Charging during the 4th quarter worth $57,000. 44.64% of the stock is owned by institutional investors and hedge funds.

Blink Charging Stock Down 5.7%

Shares of Blink Charging stock opened at $0.87 on Wednesday. Blink Charging has a 52-week low of $0.63 and a 52-week high of $3.75. The company has a 50 day moving average of $0.76 and a 200 day moving average of $1.08. The company has a market capitalization of $89.15 million, a P/E ratio of -0.57 and a beta of 3.28.

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

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.