Blink Charging Co. (NASDAQ:BLNK) Receives $2.13 Consensus Price Target from Analysts

Blink Charging Co. (NASDAQ:BLNK) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.1333.

BLNK has been the subject of several analyst reports. Zacks Research raised shares of Blink Charging from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen upgraded shares of Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Blink Charging in a research report on Friday, January 9th.

Insiders Place Their Bets

In other Blink Charging news, CFO Michael Bercovich purchased 65,333 shares of the business’s stock in a transaction on Friday, December 12th. The stock was bought at an average cost of $0.77 per share, for a total transaction of $50,306.41. Following the acquisition, the chief financial officer owned 188,563 shares of the company’s stock, valued at approximately $145,193.51. The trade was a 53.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently made changes to their positions in BLNK. Catalyst Funds Management Pty Ltd acquired a new position in Blink Charging in the second quarter valued at $42,000. Y Intercept Hong Kong Ltd acquired a new stake in Blink Charging in the 2nd quarter worth about $64,000. Marshall Wace LLP purchased a new stake in Blink Charging in the 2nd quarter valued at about $119,000. Jump Financial LLC acquired a new position in shares of Blink Charging during the 2nd quarter valued at about $60,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Blink Charging by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock worth $7,722,000 after acquiring an additional 282,515 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Stock Performance

BLNK stock opened at $0.89 on Thursday. The stock’s 50 day moving average price is $0.96 and its 200 day moving average price is $1.23. The firm has a market cap of $101.99 million, a P/E ratio of -0.72 and a beta of 1.78. Blink Charging has a 1 year low of $0.63 and a 1 year high of $2.65.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Blink Charging had a negative return on equity of 74.28% and a negative net margin of 118.41%.The company had revenue of $27.03 million during the quarter, compared to the consensus estimate of $30.08 million. On average, research analysts predict that Blink Charging will post -0.64 earnings per share for the current year.

Blink Charging Company Profile

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.