Analysts Set Blink Charging Co. (NASDAQ:BLNK) Price Target at $3.00

Blink Charging Co. (NASDAQ:BLNK) has received an average rating of “Hold” from the four brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.00.

A number of brokerages have weighed in on BLNK. Wall Street Zen upgraded Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blink Charging in a research note on Friday, May 22nd.

Blink Charging Stock Down 3.1%

BLNK stock opened at $0.55 on Thursday. Blink Charging has a 52 week low of $0.45 and a 52 week high of $2.65. The firm has a 50-day simple moving average of $0.68 and a 200-day simple moving average of $0.70. The stock has a market capitalization of $79.53 million, a P/E ratio of -0.83 and a beta of 2.03.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $21.70 million. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%. On average, analysts expect that Blink Charging will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Blink Charging

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Blink Charging by 1,256.4% during the 4th quarter. State Street Corp now owns 6,667,077 shares of the company’s stock worth $4,447,000 after acquiring an additional 6,175,566 shares during the period. Sabby Management LLC acquired a new position in Blink Charging in the 4th quarter valued at about $1,418,000. Renaissance Technologies LLC grew its stake in shares of Blink Charging by 227.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock valued at $1,703,000 after buying an additional 1,773,109 shares during the period. UBS Group AG increased its holdings in shares of Blink Charging by 67.9% during the 3rd quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock worth $3,878,000 after buying an additional 956,556 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Blink Charging by 8,386.8% in 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 during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

About Blink Charging

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.