Blink Charging (NASDAQ:BLNK) Price Target Cut to $0.80 by Analysts at UBS Group

Blink Charging (NASDAQ:BLNK) had its target price cut by analysts at UBS Group from $1.00 to $0.80 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 16.28% from the company’s current price.

Several other equities research analysts have also recently commented on BLNK. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research note on Friday, March 14th. Benchmark reduced their target price on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday, March 14th. Roth Mkm reiterated a “buy” rating and issued a $3.00 price target (down from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Barclays reduced their price objective on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Blink Charging in a report on Friday, March 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.04.

Blink Charging Price Performance

Shares of Blink Charging stock traded up $0.00 on Thursday, hitting $0.69. The company had a trading volume of 2,499,304 shares, compared to its average volume of 4,673,821. Blink Charging has a twelve month low of $0.63 and a twelve month high of $3.75. The stock has a 50-day moving average of $0.95 and a 200-day moving average of $1.41. The firm has a market capitalization of $70.67 million, a P/E ratio of -0.46 and a beta of 2.94.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The firm had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The company’s revenue was down 29.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.28) EPS. Equities analysts predict that Blink Charging will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Blink Charging

Several hedge funds have recently added to or reduced their stakes in BLNK. Wealth Enhancement Advisory Services LLC bought a new position in shares of Blink Charging in the first quarter valued at about $30,000. Two Sigma Investments LP bought a new position in Blink Charging in the 4th quarter valued at about $107,000. Man Group plc acquired a new stake in Blink Charging during the fourth quarter worth approximately $626,000. Millennium Management LLC bought a new stake in shares of Blink Charging during the fourth quarter worth approximately $43,000. Finally, Deutsche Bank AG grew its position in shares of Blink Charging by 23.4% in the fourth quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock valued at $137,000 after purchasing an additional 18,771 shares during the last quarter. Institutional investors and hedge funds 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.