Blink Charging Co. (NASDAQ:BLNK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Blink Charging Co. (NASDAQ:BLNK) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.00.

A number of research firms recently issued reports on BLNK. DA Davidson reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Blink Charging in a research note on Friday, March 15th. Roth Mkm decreased their price objective on Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and issued a $7.00 target price on shares of Blink Charging in a research note on Wednesday, April 17th. Finally, HC Wainwright reduced their target price on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 18th.

Blink Charging Stock Performance

BLNK opened at $3.21 on Tuesday. Blink Charging has a one year low of $2.18 and a one year high of $7.70. The company has a market cap of $324.18 million, a price-to-earnings ratio of -1.00 and a beta of 2.82. The business’s fifty day moving average is $2.76 and its two-hundred day moving average is $2.90.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Thursday, March 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.12. Blink Charging had a negative net margin of 144.88% and a negative return on equity of 29.26%. The company had revenue of $42.71 million during the quarter, compared to analysts’ expectations of $43.63 million. On average, analysts predict that Blink Charging will post -0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of Blink Charging during the 3rd quarter valued at $115,000. Bank of New York Mellon Corp increased its stake in Blink Charging by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 213,144 shares of the company’s stock worth $652,000 after acquiring an additional 12,022 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Blink Charging in the 3rd quarter worth about $110,000. Fox Run Management L.L.C. purchased a new stake in shares of Blink Charging during the 3rd quarter worth about $94,000. Finally, Clearstead Advisors LLC increased its position in Blink Charging by 2,961.0% during the 3rd quarter. Clearstead Advisors LLC now owns 9,183 shares of the company’s stock worth $28,000 after purchasing an additional 8,883 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

About Blink Charging

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.