Blink Charging (NASDAQ:BLNK) Stock Rating Reaffirmed by Needham & Company LLC

Blink Charging (NASDAQ:BLNK)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They currently have a $7.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 196.61% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Roth Mkm cut their price target on Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, March 15th. HC Wainwright reduced their price objective 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. Finally, DA Davidson reiterated a “neutral” rating and set a $5.00 price objective on shares of Blink Charging in a report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Blink Charging Price Performance

Shares of BLNK stock opened at $2.36 on Wednesday. The business’s 50 day simple moving average is $2.89 and its 200 day simple moving average is $2.95. Blink Charging has a one year low of $2.18 and a one year high of $7.70. The stock has a market capitalization of $238.34 million, a PE ratio of -0.73 and a beta of 2.77.

Blink Charging (NASDAQ:BLNK) last announced 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. The business had revenue of $42.71 million for the quarter, compared to analysts’ expectations of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. As a group, research analysts expect that Blink Charging will post -0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of Blink Charging by 112.9% during the third quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock valued at $33,000 after purchasing an additional 5,761 shares in the last quarter. Teza Capital Management LLC bought a new stake in Blink Charging in the third quarter worth about $34,000. Invesco Ltd. raised its position in Blink Charging by 35.8% in the third quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock worth $6,601,000 after acquiring an additional 568,417 shares during the period. Rafferty Asset Management LLC raised its position in Blink Charging by 101.5% in the third quarter. Rafferty Asset Management LLC now owns 62,369 shares of the company’s stock worth $191,000 after acquiring an additional 31,416 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Blink Charging in the third quarter worth about $146,000. 44.64% of the stock is owned by institutional investors.

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.