Needham & Company LLC Reaffirms “Buy” Rating for Blink Charging (NASDAQ:BLNK)

Needham & Company LLC reissued their buy rating on shares of Blink Charging (NASDAQ:BLNK) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $7.00 price objective on the stock.

A number of other equities research analysts have also issued reports on BLNK. HC Wainwright dropped their price target on Blink Charging from $25.00 to $15.00 and set a buy rating for the company in a research report on Monday, March 18th. DA Davidson restated a neutral rating and issued a $5.00 price target on shares of Blink Charging in a research report on Friday, March 15th. Finally, Roth Mkm lowered their price objective 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. Two investment 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.com, the company currently has a consensus rating of Moderate Buy and an average target price of $9.00.

Blink Charging Price Performance

Shares of Blink Charging stock opened at $2.29 on Wednesday. The business has a 50 day simple moving average of $2.88 and a two-hundred day simple moving average of $2.94. Blink Charging has a 12 month low of $2.18 and a 12 month high of $7.70. The stock has a market capitalization of $231.27 million, a P/E ratio of -0.71 and a beta of 2.77.

Blink Charging (NASDAQ:BLNK) last posted its quarterly 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 business had revenue of $42.71 million during the quarter, compared to analyst estimates of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. As a group, research analysts anticipate that Blink Charging will post -0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd boosted its position in shares of Blink Charging by 861.1% during the fourth quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after buying an additional 411,763 shares during the period. Vanguard Group Inc. boosted its position in shares of Blink Charging by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 2,893,783 shares of the company’s stock worth $9,810,000 after buying an additional 148,789 shares during the period. Virtu Financial LLC boosted its position in shares of Blink Charging by 618.0% during the fourth quarter. Virtu Financial LLC now owns 182,283 shares of the company’s stock worth $618,000 after buying an additional 156,896 shares during the period. Barclays PLC boosted its position in shares of Blink Charging by 1,195.1% during the fourth quarter. Barclays PLC now owns 1,012,273 shares of the company’s stock worth $3,431,000 after buying an additional 934,112 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Blink Charging by 14.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 62,522 shares of the company’s stock worth $212,000 after buying an additional 8,109 shares during the period. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.