Blink Charging (NASDAQ:BLNK) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Blink Charging (NASDAQ:BLNK) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on BLNK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blink Charging in a research note on Tuesday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a report on Tuesday, August 19th. Barclays decreased their price objective on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, July 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a report on Tuesday, August 19th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Blink Charging presently has an average rating of “Hold” and a consensus price target of $2.13.

Blink Charging Price Performance

Shares of BLNK opened at $1.77 on Monday. The firm has a market cap of $185.34 million, a P/E ratio of -0.84 and a beta of 3.54. Blink Charging has a 1 year low of $0.63 and a 1 year high of $2.65. The stock has a 50 day simple moving average of $1.47 and a two-hundred day simple moving average of $1.07.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data on Monday, August 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $28.67 million for the quarter, compared to analysts’ expectations of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%. On average, equities analysts anticipate that Blink Charging will post -0.64 earnings per share for the current year.

Hedge Funds Weigh In On Blink Charging

Several institutional investors and hedge funds have recently modified their holdings of BLNK. AQR Capital Management LLC increased its holdings in shares of Blink Charging by 8,386.8% during the first quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after acquiring an additional 873,989 shares in the last quarter. Nuveen LLC bought a new stake in Blink Charging in the 1st quarter worth about $506,000. XTX Topco Ltd bought a new stake in Blink Charging in the 2nd quarter worth about $384,000. Larson Financial Group LLC bought a new stake in Blink Charging in the 1st quarter worth about $324,000. Finally, Invesco Ltd. increased its holdings in Blink Charging by 20.1% in the 1st quarter. Invesco Ltd. now owns 1,185,794 shares of the company’s stock worth $1,088,000 after buying an additional 198,350 shares in the last quarter. 44.64% of the stock is currently 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.