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

Blink Charging Co. (NASDAQ:BLNK) has been assigned a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.00.

Several brokerages have recently issued reports on BLNK. Wall Street Zen raised shares of Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blink Charging in a report on Friday, May 22nd.

Blink Charging Trading Up 0.2%

Shares of NASDAQ BLNK opened at $0.55 on Thursday. The company has a market cap of $79.27 million, a price-to-earnings ratio of -0.82 and a beta of 2.03. Blink Charging has a 12-month low of $0.45 and a 12-month high of $2.65. The stock’s 50 day simple moving average is $0.69 and its 200 day simple moving average is $0.70.

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

Institutional Investors Weigh In On Blink Charging

Several large investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Blink Charging by 1,256.4% during the fourth quarter. State Street Corp now owns 6,667,077 shares of the company’s stock valued at $4,447,000 after purchasing an additional 6,175,566 shares during the period. Sabby Management LLC acquired a new stake in Blink Charging in the fourth quarter worth about $1,418,000. Renaissance Technologies LLC lifted its holdings in Blink Charging by 227.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock worth $1,703,000 after purchasing an additional 1,773,109 shares during the period. UBS Group AG grew its position in Blink Charging by 67.9% in the 3rd quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock valued at $3,878,000 after buying an additional 956,556 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Blink Charging by 8,386.8% in the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after buying an additional 873,989 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.