Blink Charging Co. (NASDAQ:BLNK) Receives Average Rating of "Hold" from Analysts

Key Points

• Blink Charging Co. (NASDAQ:BLNK) has received a consensus rating of "Hold" from seven analysts, with an average twelve-month price objective of $2.1333.
• Recent earnings data showed Blink Charging reported a loss of $0.26 EPS for the quarter, missing estimates, while revenue surpassed expectations at $28.67 million.
• Institutional investment in Blink Charging has increased, with Invesco Ltd. raising its holdings by 20.1% and AQR Capital Management increasing by a staggering 8,386.8% in the first quarter.

Blink Charging Co. (NASDAQ:BLNK - Get Free Report) has received a consensus rating of "Hold" from the seven analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.1333.

BLNK has been the topic of several research reports. Needham & Company LLC restated a "hold" rating on shares of Blink Charging in a report on Tuesday, August 19th. Stifel Nicolaus reduced their price objective on Blink Charging from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Barclays reduced their price objective on Blink Charging from $1.50 to $1.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Finally, HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Blink Charging in a report on Tuesday, August 19th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in shares of Blink Charging by 20.1% in the 1st quarter. Invesco Ltd. now owns 1,185,794 shares of the company's stock valued at $1,088,000 after acquiring an additional 198,350 shares during the period. AQR Capital Management LLC increased its holdings in shares of Blink Charging by 8,386.8% in the 1st 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 period. Northern Trust Corp increased its holdings in shares of Blink Charging by 1.7% in the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company's stock valued at $1,104,000 after acquiring an additional 13,336 shares during the period. Nuveen LLC purchased a new position in shares of Blink Charging in the 1st quarter valued at $506,000. Finally, Man Group plc purchased a new position in shares of Blink Charging in the 4th quarter valued at $626,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Blink Charging Stock Performance

Shares of BLNK stock opened at $0.97 on Monday. Blink Charging has a 52-week low of $0.63 and a 52-week high of $2.32. The firm has a market capitalization of $101.57 million, a P/E ratio of -0.46 and a beta of 2.96. The stock has a 50 day moving average price of $0.97 and a 200 day moving average price of $0.90.

Blink Charging (NASDAQ:BLNK - Get Free Report) last released its quarterly earnings data on Monday, August 18th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $28.67 million for the quarter, compared to analysts' expectations of $22.46 million. Blink Charging had a negative return on equity of 63.06% and a negative net margin of 203.81%. As a group, sell-side analysts forecast that Blink Charging will post -0.64 EPS for the current year.

About Blink Charging

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.

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