Blink Charging Co. (NASDAQ:BLNK) Given Average Rating of “Moderate Buy” by Brokerages

Blink Charging Co. (NASDAQ:BLNK) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.00.

A number of equities analysts have recently commented on the stock. HC Wainwright cut 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. DA Davidson reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Blink Charging in a research note on Friday, March 15th. Roth Mkm dropped their target price 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of Blink Charging in a report on Friday, March 15th.

Blink Charging Stock Up 3.5 %

Shares of NASDAQ BLNK opened at $2.37 on Friday. Blink Charging has a 52 week low of $2.18 and a 52 week high of $8.03. The stock has a market capitalization of $239.35 million, a price-to-earnings ratio of -0.74 and a beta of 2.77. The firm has a 50-day simple moving average of $2.90 and a 200-day simple moving average of $2.96.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate 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 business had revenue of $42.71 million during the quarter, compared to analyst estimates of $43.63 million. As a group, equities research analysts expect that Blink Charging will post -0.84 EPS for the current year.

Hedge Funds Weigh In On Blink Charging

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Blink Charging during the first quarter worth about $25,000. Dark Forest Capital Management LP bought a new position in Blink Charging in the first quarter valued at approximately $31,000. Point72 Hong Kong Ltd bought a new position in Blink Charging in the first quarter valued at approximately $103,000. US Bancorp DE grew its stake in Blink Charging by 73.5% in the first quarter. US Bancorp DE now owns 4,090 shares of the company’s stock valued at $108,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Blink Charging in the second quarter valued at approximately $27,000. Institutional investors and hedge funds 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.