Stifel Nicolaus Cuts Blink Charging (NASDAQ:BLNK) Price Target to $2.00

Blink Charging (NASDAQ:BLNK) had its price target decreased by Stifel Nicolaus from $3.50 to $2.00 in a report issued on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

BLNK has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research report on Friday, March 14th. Benchmark cut their target price on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday, March 14th. Barclays decreased their target price on shares of 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. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Blink Charging in a research report on Friday, March 14th. Finally, Roth Mkm reiterated a “buy” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Blink Charging presently has a consensus rating of “Hold” and a consensus price target of $3.17.

Blink Charging Price Performance

NASDAQ:BLNK opened at $0.94 on Wednesday. The company’s fifty day moving average price is $1.10 and its 200-day moving average price is $1.51. Blink Charging has a 1-year low of $0.87 and a 1-year high of $3.75. The firm has a market capitalization of $95.59 million, a P/E ratio of -0.63 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. The company had revenue of $30.20 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 29.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.28) EPS. Equities analysts anticipate that Blink Charging will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new stake in shares of Blink Charging in the third quarter valued at about $33,000. Verition Fund Management LLC purchased a new position in Blink Charging in the 3rd quarter valued at about $48,000. Intech Investment Management LLC acquired a new stake in Blink Charging in the 3rd quarter worth about $52,000. Millennium Management LLC purchased a new stake in Blink Charging during the 4th quarter worth approximately $43,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Blink Charging during the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.