Blink Charging Co. (NASDAQ:BLNK) Receives $7.58 Average PT from Brokerages

Shares of Blink Charging Co. (NASDAQ:BLNK) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $7.58.

BLNK has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price target on shares of Blink Charging from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 10th. UBS Group reduced their price target on Blink Charging from $7.00 to $4.50 and set a “buy” rating on the stock in a report on Tuesday, May 21st. B. Riley upgraded Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $4.00 target price on shares of Blink Charging in a research note on Thursday, May 16th.

Hedge Funds Weigh In On Blink Charging

A number of institutional investors have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. bought a new position in shares of Blink Charging in the 4th quarter worth about $37,000. Private Advisor Group LLC bought a new position in shares of Blink Charging during the fourth quarter valued at approximately $42,000. Cetera Advisors LLC lifted its holdings in shares of Blink Charging by 36.1% during the first quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock valued at $42,000 after purchasing an additional 3,673 shares during the last quarter. CWM LLC boosted its position in shares of Blink Charging by 60.2% in the 2nd quarter. CWM LLC now owns 15,520 shares of the company’s stock worth $43,000 after purchasing an additional 5,834 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Blink Charging in the 1st quarter worth approximately $48,000. Institutional investors own 44.64% of the company’s stock.

Blink Charging Trading Up 4.6 %

Shares of NASDAQ:BLNK opened at $3.41 on Friday. The stock has a market capitalization of $344.61 million, a P/E ratio of -1.19 and a beta of 2.73. Blink Charging has a 12-month low of $2.18 and a 12-month high of $7.25. The stock’s 50-day moving average price is $3.07 and its 200-day moving average price is $2.88.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.10. The firm had revenue of $37.57 million during the quarter, compared to the consensus estimate of $33.74 million. Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. As a group, research analysts predict that Blink Charging will post -0.4 EPS for the current year.

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.