Blink Charging Co. (NASDAQ:BLNK) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Blink Charging has a consensus analyst rating of “Hold” from five covering firms, with one sell, three hold, and one buy rating. The average 1-year price target is $3.00.
• Institutional investors remain active in the stock, and hedge funds and other institutions now own 44.64% of Blink Charging shares. Recent filings showed several new or increased positions, though many stakes remain relatively small.
• The company’s shares were trading around $0.57, near the low end of their 52-week range of $0.45 to $2.65. Blink recently beat EPS expectations but missed revenue estimates, and analysts expect negative earnings for the current fiscal year.

Blink Charging Co. (NASDAQ:BLNK - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $3.00.

BLNK has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Blink Charging in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Blink Charging from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th.

Hedge Funds Weigh In On Blink Charging

Institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP grew its holdings in Blink Charging by 58.8% during the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company's stock valued at $28,000 after purchasing an additional 10,851 shares during the period. State of Wyoming purchased a new position in shares of Blink Charging during the 4th quarter valued at $29,000. J. Derek Lewis & Associates Inc. purchased a new position in shares of Blink Charging during the 4th quarter valued at $30,000. Squarepoint Ops LLC bought a new position in shares of Blink Charging during the 3rd quarter worth $33,000. Finally, Kestra Advisory Services LLC grew its stake in shares of Blink Charging by 60.5% during the 4th quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company's stock worth $34,000 after acquiring an additional 18,950 shares during the period. Hedge funds and other institutional investors own 44.64% of the company's stock.

Blink Charging Trading Up 0.9%

BLNK stock opened at $0.57 on Thursday. The stock has a market cap of $82.50 million, a P/E ratio of -0.86 and a beta of 2.03. The stock's fifty day simple moving average is $0.71 and its two-hundred day simple moving average is $0.70. Blink Charging has a 1-year low of $0.45 and a 1-year high of $2.65.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $20.78 million during the quarter, compared to analyst estimates of $21.70 million. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%. As a group, analysts forecast that Blink Charging will post -0.17 earnings per share for the current fiscal year.

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.

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