Brokerages Set Blink Charging Co. (NASDAQ:BLNK) Target Price at $3.00

Shares of Blink Charging Co. (NASDAQ:BLNK) have received an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $3.00.

A number of research firms have weighed in on BLNK. Wall Street Zen raised Blink Charging from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blink Charging in a research note on Friday, May 22nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP grew its position in Blink Charging by 58.8% in the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after acquiring an additional 10,851 shares during the period. State of Wyoming purchased a new position in Blink Charging in the fourth quarter worth approximately $29,000. J. Derek Lewis & Associates Inc. purchased a new position in Blink Charging in the fourth quarter worth approximately $30,000. R Squared Ltd purchased a new position in Blink Charging in the third quarter worth approximately $31,000. Finally, Squarepoint Ops LLC acquired a new position in Blink Charging during the third quarter worth $33,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Blink Charging Stock Performance

NASDAQ BLNK opened at $0.79 on Wednesday. The stock’s fifty day moving average is $0.72 and its two-hundred day moving average is $0.81. The firm has a market capitalization of $114.10 million, a P/E ratio of -1.19 and a beta of 2.03. Blink Charging has a fifty-two week low of $0.45 and a fifty-two week high of $2.65.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $20.78 million for the quarter, compared to analyst estimates of $21.70 million. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%. As a group, sell-side analysts forecast that Blink Charging will post -0.17 EPS for the current year.

About Blink Charging

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.