Brokerages Set Blink Charging Co. (NASDAQ:BLNK) Price Target at $5.64

Blink Charging Co. (NASDAQ:BLNK) has been assigned an average recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.64.

A number of analysts have recently commented on the company. UBS Group downgraded Blink Charging from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. Needham & Company LLC cut shares of Blink Charging from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of Blink Charging in a report on Tuesday, November 12th.

Blink Charging Stock Performance

NASDAQ:BLNK opened at $1.49 on Wednesday. The firm’s fifty day moving average is $1.79 and its two-hundred day moving average is $2.23. The firm has a market cap of $150.75 million, a price-to-earnings ratio of -0.99 and a beta of 2.58. Blink Charging has a one year low of $1.42 and a one year high of $4.48.

Insider Activity

In related news, Director Jack Levine purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $1.70 per share, with a total value of $34,000.00. Following the purchase, the director now owns 175,718 shares of the company’s stock, valued at $298,720.60. This represents a 12.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Blink Charging

Large investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Blink Charging in the third quarter worth approximately $96,000. Barclays PLC lifted its holdings in Blink Charging by 238.4% in the 3rd quarter. Barclays PLC now owns 173,704 shares of the company’s stock valued at $299,000 after purchasing an additional 122,367 shares in the last quarter. Geode Capital Management LLC boosted its stake in Blink Charging by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after purchasing an additional 222,949 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Blink Charging during the third quarter worth $90,000. Finally, XTX Topco Ltd acquired a new stake in shares of Blink Charging in the third quarter valued at about $129,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.