Blink Charging (NASDAQ:BLNK) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Blink Charging (NASDAQ:BLNK) in a research note released on Tuesday morning,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Roth Mkm reaffirmed a “buy” rating and issued a $3.00 target price (down previously from $4.00) on shares of Blink Charging in a report on Friday, March 14th. Barclays decreased their price objective on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Stifel Nicolaus decreased their price objective on shares of Blink Charging from $3.50 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, March 26th. UBS Group decreased their price objective on shares of Blink Charging from $1.00 to $0.80 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a report on Friday, March 14th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.04.

Blink Charging Price Performance

Shares of Blink Charging stock opened at $0.78 on Tuesday. The company’s fifty day moving average price is $0.84 and its two-hundred day moving average price is $1.24. Blink Charging has a 52-week low of $0.63 and a 52-week high of $3.75. The firm has a market capitalization of $79.82 million, a PE ratio of -0.51 and a beta of 3.34.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The business had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The firm’s quarterly revenue was down 29.3% compared to the same quarter last year. Analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in shares of Blink Charging in the 1st quarter valued at approximately $506,000. Invesco Ltd. increased its stake in Blink Charging by 20.1% during the 1st quarter. Invesco Ltd. now owns 1,185,794 shares of the company’s stock worth $1,088,000 after purchasing an additional 198,350 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Blink Charging during the 1st quarter worth approximately $35,000. Larson Financial Group LLC bought a new stake in Blink Charging during the 1st quarter worth approximately $324,000. Finally, CWM LLC increased its stake in Blink Charging by 2,609.3% during the 1st quarter. CWM LLC now owns 46,492 shares of the company’s stock worth $43,000 after purchasing an additional 44,776 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.