Blink Charging (NASDAQ:BLNK) Price Target Cut to $3.00 by Analysts at UBS Group

Blink Charging (NASDAQ:BLNK) had its price target cut by UBS Group from $4.50 to $3.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

BLNK has been the topic of a number of other reports. Needham & Company LLC dropped their price objective on Blink Charging from $6.00 to $4.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus dropped their price target on Blink Charging from $4.00 to $3.50 and set a hold rating on the stock in a research report on Monday, August 12th. Benchmark started coverage on Blink Charging in a research report on Wednesday, July 31st. They issued a buy rating and a $5.00 price objective for the company. HC Wainwright decreased their price target on shares of Blink Charging from $15.00 to $8.00 and set a buy rating on the stock in a research report on Friday, August 9th. Finally, B. Riley raised shares of Blink Charging to a hold rating in a research report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $5.79.

Blink Charging Stock Performance

Shares of BLNK stock opened at $2.01 on Tuesday. The company has a market capitalization of $203.13 million, a price-to-earnings ratio of -0.70 and a beta of 2.66. The stock’s 50 day simple moving average is $1.88 and its 200 day simple moving average is $2.56. Blink Charging has a twelve month low of $1.53 and a twelve month high of $4.66.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). Blink Charging had a negative return on equity of 22.70% and a negative net margin of 108.11%. The firm had revenue of $33.26 million during the quarter, compared to analyst estimates of $38.90 million. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. Blink Charging’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts forecast that Blink Charging will post -0.62 EPS for the current fiscal year.

Insider Transactions at Blink Charging

In other Blink Charging news, Director Jack Levine bought 20,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following the transaction, the director now owns 175,718 shares in the company, valued at approximately $298,720.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 acquired at an average price of $1.70 per share, with a total value of $34,000.00. Following the purchase, the director now directly owns 175,718 shares in the company, valued at $298,720.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kristina A. Peterson sold 24,077 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Blink Charging

Several institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Blink Charging by 224.9% during the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock worth $2,206,000 after buying an additional 557,336 shares during the last quarter. Quadrature Capital Ltd grew its position in Blink Charging by 861.1% during the 4th quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after acquiring an additional 411,763 shares during the last quarter. Vanguard Group Inc. increased its holdings in Blink Charging by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock valued at $9,809,000 after purchasing an additional 365,098 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Blink Charging during the 2nd quarter valued at $843,000. Finally, Bank of New York Mellon Corp raised its position in Blink Charging by 108.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock valued at $1,107,000 after purchasing an additional 210,116 shares during the last quarter. 44.64% of the stock is owned by institutional investors.

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.