Blink Charging Co. (NASDAQ:BLNK) Given Consensus Recommendation of “Hold” by Brokerages

Blink Charging Co. (NASDAQ:BLNK) has earned an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.17.

A number of equities analysts have recently issued reports on the company. UBS Group cut their target price on Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research note on Monday, January 27th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Blink Charging in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research report on Friday, March 14th. Benchmark cut their price target 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. Finally, Stifel Nicolaus reduced their price objective on shares of Blink Charging from $3.50 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, March 26th.

Blink Charging Price Performance

NASDAQ:BLNK opened at $0.94 on Friday. The firm has a market cap of $95.24 million, a price-to-earnings ratio of -0.62 and a beta of 2.86. The firm’s fifty day moving average price is $1.06 and its 200 day moving average price is $1.49. Blink Charging has a 1-year low of $0.86 and a 1-year high of $3.75.

Blink Charging (NASDAQ:BLNK) last issued its quarterly 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 business had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The business’s revenue was down 29.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) earnings per share. As a group, analysts expect that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several hedge funds have recently modified their holdings of the stock. DRW Securities LLC purchased a new position in Blink Charging during the third quarter worth approximately $33,000. Millennium Management LLC purchased a new position in shares of Blink Charging in the 4th quarter worth $43,000. Verition Fund Management LLC acquired a new position in Blink Charging in the third quarter valued at $48,000. Intech Investment Management LLC purchased a new stake in Blink Charging during the third quarter valued at about $52,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Blink Charging during the fourth quarter worth about $57,000. 44.64% of the stock is owned by institutional investors and hedge funds.

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.