Blink Charging’s (BLNK) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Blink Charging (NASDAQ:BLNK) in a report issued on Friday morning,Benzinga reports. They currently have a $8.00 target price on the stock.

A number of other analysts have also weighed in on BLNK. Barclays cut their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Blink Charging in a research report on Friday. Finally, UBS Group lowered their target price on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.39.

Blink Charging Stock Performance

BLNK stock opened at $0.95 on Friday. The firm has a market cap of $96.54 million, a PE ratio of -0.63 and a beta of 2.86. The firm’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.55. Blink Charging has a one year low of $0.87 and a one year high of $3.75.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The firm’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.28) earnings per share. Equities research analysts predict that Blink Charging will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BLNK. Man Group plc acquired a new position in shares of Blink Charging during the 4th quarter worth approximately $626,000. Geode Capital Management LLC raised its position 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 worth $3,982,000 after purchasing an additional 222,949 shares during the last quarter. Stifel Financial Corp raised its position in shares of Blink Charging by 14.7% during the 3rd quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after purchasing an additional 180,027 shares during the last quarter. Invesco Ltd. grew its stake in Blink Charging by 19.4% in the 4th quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock worth $1,373,000 after acquiring an additional 160,251 shares during the period. Finally, Caption Management LLC purchased a new stake in Blink Charging in the 4th quarter worth approximately $180,000. 44.64% of the stock is currently 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.