Blink Charging (NASDAQ:BLNK) PT Lowered to $5.00 at Needham & Company LLC

Blink Charging (NASDAQ:BLNK) had its price objective dropped by investment analysts at Needham & Company LLC from $7.00 to $5.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 76.06% from the company’s current price.

A number of other equities research analysts have also recently commented on BLNK. HC Wainwright reduced their price target on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 18th. Roth Mkm cut their target price on Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, DA Davidson restated a “neutral” rating and set a $5.00 price target on shares of Blink Charging in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.71.

Blink Charging Trading Down 2.1 %

Blink Charging stock opened at $2.84 on Friday. The company has a market cap of $286.81 million, a P/E ratio of -0.88 and a beta of 2.82. Blink Charging has a 1-year low of $2.18 and a 1-year high of $7.70. The company has a fifty day simple moving average of $2.75 and a 200 day simple moving average of $2.90.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Thursday, March 14th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.12. Blink Charging had a negative net margin of 144.88% and a negative return on equity of 29.26%. The firm had revenue of $42.71 million for the quarter, compared to analyst estimates of $43.63 million. On average, equities research analysts forecast that Blink Charging will post -0.78 EPS for the current year.

Institutional Trading of Blink Charging

Hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its position in Blink Charging by 35.8% during the third quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock valued at $6,601,000 after purchasing an additional 568,417 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Blink Charging by 39.0% during the third quarter. Stifel Financial Corp now owns 890,505 shares of the company’s stock worth $2,725,000 after purchasing an additional 249,810 shares during the last quarter. Quadrature Capital Ltd boosted its position in Blink Charging by 861.1% in the 4th quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock valued at $1,558,000 after buying an additional 411,763 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Blink Charging by 179.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 252,246 shares of the company’s stock worth $855,000 after purchasing an additional 162,109 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Blink Charging by 5.4% during the third quarter. Alps Advisors Inc. now owns 238,758 shares of the company’s stock valued at $731,000 after buying an additional 12,191 shares during the period. Institutional investors 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.