HC Wainwright Reiterates “Buy” Rating for Blink Charging (NASDAQ:BLNK)

Blink Charging (NASDAQ:BLNK)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $8.00 price objective on the stock.

BLNK has been the topic of a number of other reports. UBS Group decreased their price target on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a report on Friday. Finally, Barclays lowered their price target on 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.09.

Blink Charging Trading Down 7.9 %

NASDAQ BLNK opened at $0.90 on Friday. Blink Charging has a twelve month low of $0.87 and a twelve month high of $3.75. The stock has a 50-day moving average of $1.22 and a 200 day moving average of $1.57. The stock has a market capitalization of $91.09 million, a price-to-earnings ratio of -0.60 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The firm had revenue of $30.20 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 29.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.28) EPS. Equities analysts predict that Blink Charging will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. DRW Securities LLC acquired a new stake in shares of Blink Charging during the 3rd quarter worth about $33,000. Verition Fund Management LLC purchased a new position in shares of Blink Charging during the third quarter worth $48,000. Intech Investment Management LLC acquired a new position in Blink Charging during the 3rd quarter worth about $52,000. Millennium Management LLC purchased a new position in shares of Blink Charging in the fourth quarter valued at approximately $43,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Blink Charging during the fourth quarter worth $57,000. Institutional investors and hedge funds 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.