Blink Charging (NASDAQ:BLNK) PT Lowered to $8.00

Blink Charging (NASDAQ:BLNK) had its target price decreased by HC Wainwright from $15.00 to $8.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 300.00% from the stock’s previous close.

BLNK has been the subject of a number of other research reports. UBS Group reduced their price objective on Blink Charging from $7.00 to $4.50 and set a “buy” rating for the company in a research report on Tuesday, May 21st. B. Riley upgraded Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Stifel Nicolaus reissued a “hold” rating and issued a $4.00 price target on shares of Blink Charging in a research note on Thursday, May 16th. Needham & Company LLC cut their price objective on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Benchmark assumed coverage on shares of Blink Charging in a research report on Wednesday, July 31st. They issued a “buy” rating and a $5.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.07.

Blink Charging Stock Down 6.1 %

Shares of BLNK traded down $0.13 during trading hours on Friday, reaching $2.00. The company’s stock had a trading volume of 8,690,304 shares, compared to its average volume of 6,151,917. The company has a 50 day moving average of $3.00 and a two-hundred day moving average of $2.90. The firm has a market cap of $202.12 million, a price-to-earnings ratio of -0.70 and a beta of 2.73. Blink Charging has a 1-year low of $1.95 and a 1-year high of $6.78.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). Blink Charging had a negative net margin of 122.09% and a negative return on equity of 25.12%. The company had revenue of $33.26 million for the quarter, compared to analysts’ expectations of $38.90 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts forecast that Blink Charging will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new position in Blink Charging during the fourth quarter valued at approximately $42,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Blink Charging by 179.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 252,246 shares of the company’s stock valued at $855,000 after buying an additional 162,109 shares during the last quarter. KBC Group NV grew its stake in Blink Charging by 173.4% in the 4th quarter. KBC Group NV now owns 224,472 shares of the company’s stock valued at $761,000 after buying an additional 142,366 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Blink Charging by 36.3% in the 1st quarter. BNP Paribas Financial Markets now owns 39,601 shares of the company’s stock worth $119,000 after acquiring an additional 10,554 shares during the period. Finally, Quadrature Capital Ltd lifted its position in Blink Charging by 861.1% during the 4th quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after acquiring an additional 411,763 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.