Blink Charging Co. (NASDAQ:BLNK) Receives $2.13 Average Price Target from Brokerages

Blink Charging Co. (NASDAQ:BLNK) has received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.1333.

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Blink Charging in a research note on Tuesday, October 14th. Zacks Research upgraded Blink Charging from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Wall Street Zen upgraded shares of Blink Charging from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

Insider Buying and Selling

In other news, CFO Michael Bercovich bought 65,333 shares of the business’s stock in a transaction on Friday, December 12th. The stock was purchased at an average price of $0.77 per share, with a total value of $50,306.41. Following the transaction, the chief financial officer directly owned 188,563 shares in the company, valued at approximately $145,193.51. The trade was a 53.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently made changes to their positions in BLNK. Engineers Gate Manager LP increased its stake in shares of Blink Charging by 58.8% in the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after purchasing an additional 10,851 shares during the period. R Squared Ltd acquired a new stake in Blink Charging in the 3rd quarter valued at approximately $31,000. Squarepoint Ops LLC acquired a new stake in Blink Charging in the 3rd quarter valued at approximately $33,000. Ethic Inc. bought a new position in Blink Charging in the 3rd quarter worth approximately $35,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Blink Charging by 62.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company’s stock worth $57,000 after buying an additional 23,438 shares during the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

Blink Charging Trading Down 3.2%

BLNK stock opened at $0.64 on Friday. The firm has a market cap of $73.82 million, a PE ratio of -0.52 and a beta of 1.89. Blink Charging has a 1 year low of $0.63 and a 1 year high of $2.65. The company has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.25.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. Blink Charging had a negative return on equity of 74.28% and a negative net margin of 118.41%.The company had revenue of $27.03 million for the quarter, compared to analyst estimates of $30.08 million. As a group, analysts forecast that Blink Charging will post -0.64 EPS for the current fiscal year.

Blink Charging Company Profile

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.