Analysts Set Blink Charging Co. (NASDAQ:BLNK) Price Target at $3.17

Blink Charging Co. (NASDAQ:BLNK) has received a consensus rating of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $3.17.

Several analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on Blink Charging from $3.50 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, March 26th. Roth Mkm reissued a “buy” rating and set a $3.00 price target (down previously from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a research report on Friday, March 14th. Barclays dropped 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 report on Tuesday, February 4th. Finally, UBS Group reduced their price target on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a report on Monday, January 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Blink Charging by 10.7% during the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after purchasing an additional 222,949 shares in the last quarter. Stifel Financial Corp lifted its position in Blink Charging by 14.7% during the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock valued at $2,419,000 after buying an additional 180,027 shares during the period. Invesco Ltd. boosted its holdings in shares of Blink Charging by 19.4% during the 4th quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock valued at $1,373,000 after buying an additional 160,251 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Blink Charging by 14.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company’s stock worth $1,301,000 after buying an additional 116,758 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Blink Charging by 1.7% in the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock worth $1,104,000 after acquiring an additional 13,336 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Stock Performance

Shares of BLNK opened at $0.94 on Friday. Blink Charging has a fifty-two week low of $0.87 and a fifty-two week high of $3.75. The firm has a 50 day moving average price of $1.08 and a 200-day moving average price of $1.50. The firm has a market cap of $94.69 million, a price-to-earnings ratio of -0.62 and a beta of 2.86.

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

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.