Blink Charging (NASDAQ:BLNK) Stock Rating Upgraded by Zacks Research

Blink Charging (NASDAQ:BLNK) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on BLNK. Weiss Ratings reissued a “sell (d-)” rating on shares of Blink Charging in a research report on Tuesday, October 14th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research report on Tuesday, August 19th. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research report on Tuesday, August 19th. Finally, Barclays dropped their price target on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.13.

Blink Charging Stock Performance

Blink Charging stock opened at $1.77 on Monday. The stock’s 50 day moving average price is $1.47 and its 200 day moving average price is $1.07. Blink Charging has a one year low of $0.63 and a one year high of $2.65. The firm has a market capitalization of $185.34 million, a PE ratio of -0.84 and a beta of 3.54.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Monday, August 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%. The business had revenue of $28.67 million during the quarter, compared to analyst estimates of $22.46 million. On average, analysts forecast that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Ethic Inc. bought a new position in shares of Blink Charging in the third quarter worth $35,000. Engineers Gate Manager LP grew its stake in shares of Blink Charging by 58.8% in the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after purchasing an additional 10,851 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Blink Charging in the first quarter worth $30,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Blink Charging in the first quarter worth $30,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Blink Charging in the first quarter worth $35,000. 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.