Blink Charging (NASDAQ:BLNK) Price Target Cut to $2.00 by Analysts at Benchmark

Blink Charging (NASDAQ:BLNK) had its price target decreased by research analysts at Benchmark from $5.00 to $2.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 114.59% from the company’s current price.

Several other equities analysts have also weighed in on BLNK. Needham & Company LLC reaffirmed a “hold” rating on shares of Blink Charging in a research report on Friday. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Blink Charging in a report on Friday. UBS Group lowered their price target on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Barclays decreased their price target on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.71.

Blink Charging Trading Up 3.5 %

Shares of BLNK traded up $0.03 during midday trading on Friday, hitting $0.93. The stock had a trading volume of 612,850 shares, compared to its average volume of 4,941,660. Blink Charging has a fifty-two week low of $0.87 and a fifty-two week high of $3.75. The business has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $1.57. The firm has a market cap of $94.30 million, a P/E ratio of -0.62 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. The business had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.77 million. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The firm’s revenue was down 29.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) earnings per share. On average, analysts expect that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BLNK. Geode Capital Management LLC raised its holdings in shares of Blink Charging by 10.7% in the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after buying an additional 222,949 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Blink Charging by 14.7% in the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock valued at $2,419,000 after buying an additional 180,027 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Blink Charging by 19.4% in the fourth quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock valued at $1,373,000 after buying an additional 160,251 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Blink Charging by 14.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company’s stock valued at $1,301,000 after buying an additional 116,758 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Blink Charging by 1.7% in the fourth quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock valued at $1,104,000 after buying an additional 13,336 shares during the last quarter. 44.64% of the stock is owned by institutional investors.

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.