Analysts Set Blink Charging Co. (NASDAQ:BLNK) PT at $3.00

Shares of Blink Charging Co. (NASDAQ:BLNK) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.00.

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Blink Charging from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP increased its position 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 during the last quarter. Kestra Advisory Services LLC increased its position in shares of Blink Charging by 60.5% in the fourth quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock worth $34,000 after purchasing an additional 18,950 shares during the last quarter. R Squared Ltd bought a new position in Blink Charging during the third quarter valued at approximately $31,000. Squarepoint Ops LLC bought a new position in Blink Charging during the third quarter valued at approximately $33,000. Finally, Pilgrim Partners Asia Pte Ltd grew its position in Blink Charging by 83.3% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 66,000 shares of the company’s stock valued at $44,000 after acquiring an additional 30,000 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors.

Blink Charging Stock Performance

BLNK stock opened at $0.83 on Wednesday. The company’s 50 day moving average is $0.71 and its 200 day moving average is $0.82. The stock has a market cap of $118.68 million, a price-to-earnings ratio of -1.23 and a beta of 2.03. Blink Charging has a 1-year low of $0.45 and a 1-year high of $2.65.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $21.70 million. Blink Charging had a negative net margin of 73.75% and a negative return on equity of 83.40%. As a group, sell-side analysts forecast that Blink Charging will post -0.17 EPS for the current fiscal year.

About Blink Charging

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.