UBS Group Downgrades Blink Charging (NASDAQ:BLNK) to Neutral

UBS Group lowered shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a neutral rating in a report issued on Thursday morning, MarketBeat reports. UBS Group currently has $2.00 target price on the stock, down from their prior target price of $3.00.

A number of other equities research analysts also recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a research report on Tuesday, November 12th. Needham & Company LLC reduced their target price 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 cut their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, HC Wainwright dropped their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Blink Charging currently has an average rating of “Moderate Buy” and an average price target of $5.64.

Blink Charging Stock Down 5.6 %

BLNK stock opened at $1.52 on Thursday. Blink Charging has a twelve month low of $1.50 and a twelve month high of $4.66. The firm has a market capitalization of $153.79 million, a PE ratio of -1.01 and a beta of 2.65. The stock has a 50-day simple moving average of $1.88 and a two-hundred day simple moving average of $2.47.

Insider Buying and Selling at Blink Charging

In other news, Director Jack Levine acquired 20,000 shares of the stock in a transaction on Thursday, September 26th. The stock was acquired at an average price of $1.70 per share, with a total value of $34,000.00. Following the completion of the transaction, the director now owns 175,718 shares of the company’s stock, valued at $298,720.60. This represents a 12.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kristina A. Peterson sold 24,077 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $1.80, for a total transaction of $43,338.60. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Blink Charging

Institutional investors and hedge funds have recently modified their holdings of the stock. BCGM Wealth Management LLC bought a new stake in shares of Blink Charging in the 2nd quarter worth $27,000. Hsbc Holdings PLC bought a new stake in Blink Charging in the 2nd quarter worth approximately $29,000. Principal Financial Group Inc. bought a new position in shares of Blink Charging during the 2nd quarter valued at $30,000. Victory Capital Management Inc. bought a new stake in shares of Blink Charging in the second quarter worth $33,000. Finally, DRW Securities LLC bought a new position in Blink Charging in the third quarter valued at about $33,000. 44.64% of the stock is currently owned by institutional investors.

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.