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

Blink Charging Co. (NASDAQ:BLNK) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.64.

BLNK has been the topic of a number of recent analyst reports. UBS Group lowered Blink Charging from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research note on Tuesday, November 12th. Finally, Needham & Company LLC lowered Blink Charging from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Insider Activity at Blink Charging

In related news, Director Jack Levine acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $1.70 per share, with a total value of $34,000.00. Following the completion of the transaction, the director now directly owns 175,718 shares in the company, valued at $298,720.60. This trade represents a 12.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristina A. Peterson sold 24,077 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The disclosure for this sale can be found here. 6.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blink Charging

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Blink Charging by 10.7% in the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after acquiring an additional 222,949 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Blink Charging by 14.7% in the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after purchasing an additional 180,027 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Blink Charging by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock worth $1,409,000 after purchasing an additional 79,969 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Blink Charging by 224.9% in the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock worth $2,206,000 after purchasing an additional 557,336 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Blink Charging by 108.4% in the second quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock worth $1,107,000 after purchasing an additional 210,116 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

Blink Charging Stock Down 1.3 %

BLNK stock opened at $1.58 on Wednesday. The business’s fifty day simple moving average is $1.80 and its two-hundred day simple moving average is $2.24. Blink Charging has a twelve month low of $1.48 and a twelve month high of $4.48. The firm has a market cap of $159.86 million, a price-to-earnings ratio of -1.05 and a beta of 2.58.

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.