Zacks Investment Research Upgrades Blink Charging (NASDAQ:BLNK) to Hold

Blink Charging (NASDAQ:BLNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Blink Charging Co. is an owner, operator and provider of EV charging stations and services. It also offers EV charging equipment and connectivity to the Blink Network, a cloud-based software which operates, manages and tracks the Blink EV charging stations and all the associated data. The company serves multifamily residential and commercial properties, airports, colleges, municipalities, parking garages, shopping malls, retail parking, schools and workplaces sectors. Blink Charging Co. is headquartered in Florida, United States. “

A number of other analysts have also weighed in on the stock. DA Davidson assumed coverage on shares of Blink Charging in a research report on Friday, August 27th. They issued a “neutral” rating and a $31.00 price objective on the stock. Roth Capital lowered shares of Blink Charging from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Thursday, August 12th. Finally, Needham & Company LLC cut their price objective on shares of Blink Charging from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, August 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Blink Charging has an average rating of “Hold” and a consensus target price of $35.75.

Shares of NASDAQ:BLNK opened at $29.27 on Tuesday. Blink Charging has a 12 month low of $7.33 and a 12 month high of $64.50. The company has a 50-day moving average price of $30.81 and a 200 day moving average price of $34.40. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -34.03 and a beta of 3.80.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Tuesday, August 10th. The company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.16). Blink Charging had a negative net margin of 328.57% and a negative return on equity of 25.11%. The business had revenue of $4.36 million during the quarter, compared to the consensus estimate of $2.65 million. As a group, equities research analysts predict that Blink Charging will post -1 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. Koshinski Asset Management Inc. purchased a new position in Blink Charging in the third quarter valued at $74,000. Creative Financial Designs Inc. ADV purchased a new position in Blink Charging in the third quarter valued at $66,000. IFP Advisors Inc increased its holdings in Blink Charging by 16.4% in the third quarter. IFP Advisors Inc now owns 10,680 shares of the company’s stock valued at $309,000 after buying an additional 1,504 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Blink Charging during the second quarter worth about $412,000. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Blink Charging during the second quarter worth about $228,000. 37.92% of the stock is owned by hedge funds and other institutional investors.

Blink Charging Company Profile

Blink Charging Co engages in the operation and provision of electric vehicle, charging equipment, and networked EV charging services. Its product line and services include Blink EV charging network, charging equipment, also known as electric vehicle supply equipment, and EV charging services. The company was founded by Michael D.

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