Blink Charging Co. (NASDAQ:BLNK) Receives $2.40 Average Target Price from Analysts

Key Points

• Blink Charging Co. (NASDAQ:BLNK) has an average analyst recommendation of "Hold", with four analysts rating it as such and three assigning a buy recommendation.
• Recent research reports indicate a drop in price targets, with estimates ranging from $0.80 to $5.00, reflecting a cautious outlook on the stock.
• The company's recent quarterly earnings showed a loss of ($0.18) per share, missing expectations, with total revenue of $20.75 million, below the estimated $27.60 million.

Shares of Blink Charging Co. (NASDAQ:BLNK - Get Free Report) have been given a consensus recommendation of "Hold" by the seven ratings firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $2.40.

Several analysts have recently issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of Blink Charging in a research note on Tuesday, May 13th. Stifel Nicolaus lowered their price target on shares of Blink Charging from $2.00 to $1.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. HC Wainwright lowered their price target on shares of Blink Charging from $8.00 to $5.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Barclays lowered their price target on shares of 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, UBS Group lowered their price target on shares of Blink Charging from $1.00 to $0.80 and set a "neutral" rating for the company in a report on Thursday, April 17th.

Institutional Trading of Blink Charging

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in Blink Charging during the 4th quarter worth $43,000. Cerity Partners LLC purchased a new stake in shares of Blink Charging in the first quarter valued at about $30,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Blink Charging in the first quarter valued at about $30,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Blink Charging in the first quarter valued at about $35,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Blink Charging in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 44.64% of the company's stock.

Blink Charging Stock Performance

Shares of Blink Charging stock traded down $0.02 during trading hours on Thursday, reaching $0.95. 1,381,175 shares of the company were exchanged, compared to its average volume of 3,676,731. The firm has a market cap of $97.67 million, a PE ratio of -0.48 and a beta of 3.22. Blink Charging has a 1 year low of $0.63 and a 1 year high of $2.98. The stock's fifty day moving average is $0.93 and its 200 day moving average is $0.95.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The company had revenue of $20.75 million during the quarter, compared to analyst estimates of $27.60 million. Blink Charging had a negative net margin of 184.37% and a negative return on equity of 39.14%. Research analysts expect that Blink Charging will post -0.64 earnings per share for the current year.

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.