Blink Charging (NASDAQ:BLNK) Given New $0.80 Price Target at UBS Group

Blink Charging (NASDAQ:BLNK) had its price target decreased by UBS Group from $1.00 to $0.80 in a report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

BLNK has been the subject of several other research reports. Benchmark decreased their target price 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. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Blink Charging in a research note on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research report on Friday, March 14th. Barclays reduced their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus decreased their price target on Blink Charging from $3.50 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.04.

Blink Charging Stock Performance

NASDAQ:BLNK opened at $0.68 on Thursday. Blink Charging has a 1 year low of $0.63 and a 1 year high of $3.75. The business has a fifty day moving average of $0.94 and a 200-day moving average of $1.40. The stock has a market cap of $70.34 million, a price-to-earnings ratio of -0.45 and a beta of 2.94.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. 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 the consensus estimate of $30.77 million. During the same period in the previous year, the firm earned ($0.28) EPS. Blink Charging’s revenue was down 29.3% on a year-over-year basis. On average, equities research analysts predict that Blink Charging will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Blink Charging

A number of large investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new position in Blink Charging in the 4th quarter valued at approximately $43,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Blink Charging during the first quarter valued at $30,000. Cubist Systematic Strategies LLC purchased a new position in Blink Charging in the fourth quarter valued at about $57,000. Intech Investment Management LLC lifted its holdings in shares of Blink Charging by 59.5% during the 4th quarter. Intech Investment Management LLC now owns 48,569 shares of the company’s stock valued at $68,000 after buying an additional 18,110 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in Blink Charging in the third quarter worth approximately $90,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.