Blink Charging (NASDAQ:BLNK) Stock Rating Lowered by Needham & Company LLC

Blink Charging (NASDAQ:BLNK) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat reports.

Other equities analysts also recently issued research reports about the stock. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a report on Tuesday, November 12th. HC Wainwright dropped their target price on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group lowered Blink Charging from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. Finally, Stifel Nicolaus reduced their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.64.

Blink Charging Stock Performance

BLNK stock opened at $1.54 on Tuesday. The stock has a market capitalization of $155.31 million, a PE ratio of -1.02 and a beta of 2.65. The company has a fifty day moving average of $1.87 and a 200-day moving average of $2.45. Blink Charging has a one year low of $1.48 and a one year high of $4.48.

Insiders Place Their Bets

In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total value of $43,338.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack Levine acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the acquisition, the director now directly owns 175,718 shares of the company’s stock, valued at approximately $298,720.60. The trade was a 12.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of Blink Charging

A number of hedge funds have recently added to or reduced their stakes in BLNK. Virtu Financial LLC acquired a new stake in shares of Blink Charging in the third quarter worth approximately $96,000. Barclays PLC raised its stake in Blink Charging by 238.4% during the third quarter. Barclays PLC now owns 173,704 shares of the company’s stock worth $299,000 after purchasing an additional 122,367 shares during the period. Geode Capital Management LLC grew its stake in shares of Blink Charging by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after buying an additional 222,949 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in shares of Blink Charging during the 3rd quarter valued at $90,000. Finally, XTX Topco Ltd purchased a new position in shares of Blink Charging in the 3rd quarter worth $129,000. 44.64% of the stock is owned by institutional investors and hedge funds.

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.