Barclays Has Lowered Expectations for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK) had its price target lowered by equities researchers at Barclays from $3.00 to $1.50 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 27.12% from the company’s current price.

Several other research analysts also recently commented on the company. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Blink Charging in a research note on Tuesday, November 12th. UBS Group reduced their price objective on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Blink Charging in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.09.

Blink Charging Stock Performance

Shares of BLNK stock opened at $1.18 on Tuesday. Blink Charging has a 52-week low of $1.15 and a 52-week high of $3.75. The stock has a market cap of $119.39 million, a price-to-earnings ratio of -0.78 and a beta of 2.61. The firm’s 50-day moving average is $1.49 and its 200-day moving average is $1.86.

Institutional Trading of Blink Charging

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in shares of Blink Charging by 224.9% in 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Blink Charging by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,469 shares of the company’s stock valued at $103,000 after acquiring an additional 16,549 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Blink Charging by 49.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 106,864 shares of the company’s stock valued at $293,000 after acquiring an additional 35,387 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Blink Charging during the 3rd quarter worth $122,000. Finally, Swedbank AB increased its position in shares of Blink Charging by 57.0% in the third quarter. Swedbank AB now owns 225,516 shares of the company’s stock worth $388,000 after purchasing an additional 81,894 shares during the period. Institutional investors own 44.64% of the company’s stock.

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.