Blink Charging (NASDAQ:BLNK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Blink Charging (NASDAQ:BLNK) from a sell rating to a hold rating in a report released on Sunday.

Several other brokerages have also recently issued reports on BLNK. HC Wainwright lowered their target price on shares of Blink Charging to $2.50 and set a “buy” rating on the stock in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.50.

Blink Charging Price Performance

NASDAQ BLNK opened at $0.59 on Friday. The company has a market cap of $85.53 million, a PE ratio of -1.48 and a beta of 2.05. The stock’s 50 day simple moving average is $0.60 and its 200-day simple moving average is $0.67. Blink Charging has a 1-year low of $0.45 and a 1-year high of $2.65.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. Blink Charging had a negative return on equity of 53.40% and a negative net margin of 52.24%.The firm had revenue of $21.67 million for the quarter, compared to analyst estimates of $24.25 million. On average, equities research analysts anticipate that Blink Charging will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently made changes to their positions in BLNK. AQR Capital Management LLC boosted its stake in Blink Charging by 8,386.8% during the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock worth $812,000 after buying an additional 873,989 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Blink Charging in the 2nd quarter worth $119,000. Jump Financial LLC purchased a new position in shares of Blink Charging during the 2nd quarter worth $60,000. Engineers Gate Manager LP raised its holdings in shares of Blink Charging by 58.8% during the 2nd 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. Finally, Vanguard Group Inc. boosted its position in shares of Blink Charging by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock valued at $7,722,000 after acquiring an additional 282,515 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

Blink Charging Company Profile

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.