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

Shares of Blink Charging Co. (NASDAQ:BLNK) have earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.64.

BLNK has been the topic of several research reports. UBS Group cut Blink Charging from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.00 to $2.00 in a research note on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research report on Tuesday, November 12th. Finally, Needham & Company LLC downgraded shares of Blink Charging from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

Hedge Funds Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Blink Charging by 224.9% during the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after buying an additional 557,336 shares during the last quarter. Geode Capital Management LLC raised its stake in Blink Charging by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after acquiring an additional 222,949 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Blink Charging by 108.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock worth $1,107,000 after acquiring an additional 210,116 shares during the period. Stifel Financial Corp grew its stake 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 worth $2,419,000 after purchasing an additional 180,027 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Blink Charging during the third quarter valued at $213,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Blink Charging Stock Performance

Shares of Blink Charging stock opened at $1.56 on Friday. Blink Charging has a 1 year low of $1.38 and a 1 year high of $3.75. The firm’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $2.06. The firm has a market cap of $157.83 million, a PE ratio of -1.03 and a beta of 2.61.

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.