Blink Charging (NASDAQ:BLNK) Given Buy Rating at Needham & Company LLC

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

Other equities research analysts have also recently issued reports about the company. DA Davidson reissued a neutral rating and set a $5.00 price target on shares of Blink Charging in a report on Friday, March 15th. Roth Mkm lowered their price target on Blink Charging from $25.00 to $12.00 and set a buy rating on the stock in a report on Friday, March 15th. Finally, HC Wainwright cut their price objective on shares of Blink Charging from $25.00 to $15.00 and set a buy rating for the company in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $9.00.

Blink Charging Stock Up 0.4 %

BLNK stock opened at $2.38 on Wednesday. The business’s 50-day moving average price is $2.90 and its 200-day moving average price is $2.95. The stock has a market cap of $240.36 million, a P/E ratio of -0.74 and a beta of 2.77. Blink Charging has a twelve month low of $2.18 and a twelve month high of $7.82.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.12. The business had revenue of $42.71 million for the quarter, compared to the consensus estimate of $43.63 million. Blink Charging had a negative net margin of 144.88% and a negative return on equity of 29.26%. On average, equities research analysts expect that Blink Charging will post -0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blink Charging

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Blink Charging by 112.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock valued at $33,000 after acquiring an additional 5,761 shares during the last quarter. Teza Capital Management LLC bought a new position in Blink Charging during the third quarter valued at $34,000. Invesco Ltd. grew its stake in shares of Blink Charging by 35.8% in the 3rd quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock worth $6,601,000 after buying an additional 568,417 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Blink Charging by 101.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 62,369 shares of the company’s stock worth $191,000 after buying an additional 31,416 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Blink Charging in the 3rd quarter worth about $146,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.