Blink Charging (NASDAQ:BLNK) Price Target Cut to $4.50 by Analysts at UBS Group

Blink Charging (NASDAQ:BLNK) had its price target trimmed by UBS Group from $7.00 to $4.50 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also commented on BLNK. HC Wainwright cut their price objective on shares of Blink Charging from $25.00 to $15.00 and set a buy rating for the company in a research report on Monday, March 18th. Needham & Company LLC reduced their price target on shares of Blink Charging from $7.00 to $5.00 and set a buy rating for the company in a research report on Friday, May 10th. Stifel Nicolaus reiterated a hold rating and issued a $4.00 price objective on shares of Blink Charging in a research report on Thursday, May 16th. Roth Mkm reduced their target price on Blink Charging from $25.00 to $12.00 and set a buy rating for the company in a research report on Friday, March 15th. Finally, DA Davidson reaffirmed a neutral rating and issued a $5.00 price target on shares of Blink Charging in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $7.50.

Blink Charging Trading Down 4.6 %

Blink Charging stock opened at $3.12 on Tuesday. The firm has a market capitalization of $315.09 million, a price-to-earnings ratio of -1.09 and a beta of 2.82. The firm has a 50 day simple moving average of $2.75 and a 200 day simple moving average of $2.95. Blink Charging has a 1-year low of $2.18 and a 1-year high of $7.35.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data 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. Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. The company had revenue of $42.71 million for the quarter, compared to analyst estimates of $43.63 million. On average, equities research analysts forecast that Blink Charging will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Blink Charging by 6.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 213,144 shares of the company’s stock worth $652,000 after purchasing an additional 12,022 shares during the period. Jump Financial LLC bought a new position in shares of Blink Charging in the third quarter worth approximately $110,000. Fox Run Management L.L.C. purchased a new position in shares of Blink Charging in the third quarter worth $94,000. Clearstead Advisors LLC raised its holdings in Blink Charging by 2,961.0% during the 3rd quarter. Clearstead Advisors LLC now owns 9,183 shares of the company’s stock valued at $28,000 after buying an additional 8,883 shares during the last quarter. Finally, Swiss National Bank boosted its position in Blink Charging by 12.0% during the 3rd quarter. Swiss National Bank now owns 123,000 shares of the company’s stock valued at $376,000 after buying an additional 13,200 shares during the period. 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.