B. Riley Upgrades Blink Charging (NASDAQ:BLNK) to “Hold”

Blink Charging (NASDAQ:BLNK) was upgraded by equities researchers at B. Riley to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

Several other brokerages also recently issued reports on BLNK. Needham & Company LLC reduced their price objective on shares of Blink Charging from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Stifel Nicolaus reissued a “hold” rating and set a $4.00 price objective on shares of Blink Charging in a research note on Thursday, May 16th. Roth Mkm reduced their price objective on shares of Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. UBS Group reduced their price objective on shares of Blink Charging from $7.00 to $4.50 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Finally, HC Wainwright reduced their price objective on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Blink Charging Price Performance

BLNK stock opened at $2.69 on Tuesday. The company’s 50 day simple moving average is $2.93 and its 200-day simple moving average is $2.90. The firm has a market capitalization of $271.85 million, a PE ratio of -0.94 and a beta of 2.76. Blink Charging has a 12 month low of $2.18 and a 12 month high of $7.25.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.10. The business had revenue of $37.57 million for the quarter, compared to analyst estimates of $33.74 million. Blink Charging had a negative net margin of 122.09% and a negative return on equity of 25.12%. As a group, sell-side analysts anticipate that Blink Charging will post -0.56 earnings per share for the current year.

Hedge Funds Weigh In On Blink Charging

A number of large investors have recently bought and sold shares of BLNK. PNC Financial Services Group Inc. raised its stake in Blink Charging by 112.9% during the third quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock worth $33,000 after purchasing an additional 5,761 shares during the period. Teza Capital Management LLC purchased a new position in Blink Charging during the third quarter worth approximately $34,000. Stratos Wealth Partners LTD. purchased a new position in Blink Charging during the fourth quarter worth approximately $37,000. Private Advisor Group LLC purchased a new position in Blink Charging during the fourth quarter worth approximately $42,000. Finally, Cetera Advisors LLC raised its stake in shares of Blink Charging by 36.1% in the 1st quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock valued at $42,000 after acquiring an additional 3,673 shares during the period. Hedge funds and other institutional investors 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.