Blink Charging Co. (NASDAQ:BLNK) Receives Average Rating of “Hold” from Analysts

Blink Charging Co. (NASDAQ:BLNK) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five 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 target among brokers that have updated their coverage on the stock in the last year is $5.09.

A number of analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating on shares of Blink Charging in a research note on Wednesday, January 15th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a report on Tuesday, November 12th. Barclays cut their price target on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday. Finally, UBS Group cut their price target on Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a report on Monday, January 27th.

Blink Charging Trading Down 1.7 %

NASDAQ BLNK opened at $1.15 on Thursday. The company’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.84. Blink Charging has a 52 week low of $1.14 and a 52 week high of $3.75. The stock has a market cap of $116.36 million, a P/E ratio of -0.76 and a beta of 2.59.

Hedge Funds Weigh In On Blink Charging

Institutional investors have recently modified their holdings of the stock. DRW Securities LLC acquired a new position in shares of Blink Charging during the 3rd quarter worth about $33,000. United Advisor Group LLC acquired a new position in shares of Blink Charging during the 3rd quarter worth about $34,000. Verition Fund Management LLC acquired a new position in shares of Blink Charging during the 3rd quarter worth about $48,000. Intech Investment Management LLC acquired a new position in shares of Blink Charging during the 3rd quarter worth about $52,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Blink Charging by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,469 shares of the company’s stock worth $103,000 after buying an additional 16,549 shares during the period. 44.64% of the stock is currently owned by institutional investors and hedge funds.

About Blink Charging

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.