Blink Charging (NASDAQ:BLNK) PT Lowered to $5.00

Blink Charging (NASDAQ:BLNK) had its price objective cut by equities researchers at Needham & Company LLC from $7.00 to $5.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 76.06% from the company’s previous close.

Several other analysts also recently commented on BLNK. Roth Mkm reduced their price target on shares of Blink Charging from $25.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, March 15th. DA Davidson reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Blink Charging in a report on Friday, March 15th. Finally, HC Wainwright lowered their price target on Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blink Charging presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.71.

Blink Charging Price Performance

NASDAQ BLNK opened at $2.84 on Friday. The company has a fifty day moving average of $2.75 and a two-hundred day moving average of $2.90. Blink Charging has a 1 year low of $2.18 and a 1 year high of $7.70. The company has a market capitalization of $286.81 million, a PE ratio of -0.88 and a beta of 2.82.

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, beating analysts’ consensus estimates of ($0.40) by $0.12. The firm had revenue of $42.71 million during 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%. On average, research analysts expect that Blink Charging will post -0.78 earnings per share for the current year.

Institutional Trading of Blink Charging

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clearstead Advisors LLC raised its holdings in Blink Charging by 2,961.0% during the third 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. Pathstone Family Office LLC acquired a new stake in shares of Blink Charging in the 3rd quarter valued at approximately $32,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Blink Charging in the 4th quarter valued at approximately $37,000. PNC Financial Services Group Inc. boosted its stake in shares of Blink Charging by 112.9% in the third quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock valued at $33,000 after buying an additional 5,761 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new position in Blink Charging during the third quarter worth $34,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.