Benchmark Lowers Blink Charging (NASDAQ:BLNK) Price Target to $2.00

Blink Charging (NASDAQ:BLNK) had its price target lowered by Benchmark from $5.00 to $2.00 in a research note published on Friday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other equities analysts have also recently commented on BLNK. Barclays reduced their target price on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. UBS Group reduced their price objective on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research note on Monday, January 27th. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a research note on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research note on Friday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.39.

Blink Charging Trading Up 6.0 %

Blink Charging stock opened at $0.95 on Friday. The stock has a market cap of $96.54 million, a P/E ratio of -0.63 and a beta of 2.86. The stock has a 50 day moving average of $1.19 and a 200-day moving average of $1.55. Blink Charging has a 52 week low of $0.87 and a 52 week high of $3.75.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.03. The company had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The business’s revenue was down 29.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.28) EPS. As a group, equities analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several large investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in Blink Charging by 8.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,415 shares of the company’s stock worth $200,000 after buying an additional 9,551 shares during the period. American Century Companies Inc. increased its position in Blink Charging by 8.4% in the fourth quarter. American Century Companies Inc. now owns 130,783 shares of the company’s stock worth $182,000 after buying an additional 10,123 shares during the period. Bank of America Corp DE increased its position in Blink Charging by 10.0% in the fourth quarter. Bank of America Corp DE now owns 135,663 shares of the company’s stock worth $189,000 after buying an additional 12,362 shares during the period. Northern Trust Corp increased its position in Blink Charging by 1.7% in the fourth quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock worth $1,104,000 after buying an additional 13,336 shares during the period. Finally, Intech Investment Management LLC increased its position in Blink Charging by 59.5% in the fourth quarter. Intech Investment Management LLC now owns 48,569 shares of the company’s stock worth $68,000 after buying an additional 18,110 shares during the period. 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.