Barclays Issues Pessimistic Forecast for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK - Free Report) had its price target trimmed by Barclays from $1.50 to $1.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

BLNK has been the subject of a number of other reports. HC Wainwright reduced their target price on shares of Blink Charging from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Blink Charging in a report on Tuesday, May 13th. UBS Group decreased their price target on shares of Blink Charging from $1.00 to $0.80 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Stifel Nicolaus decreased their target price on shares of Blink Charging from $2.00 to $1.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Blink Charging presently has an average rating of "Hold" and an average price target of $2.40.

Blink Charging Price Performance

Shares of NASDAQ BLNK traded down $0.04 during mid-day trading on Wednesday, hitting $1.12. The company had a trading volume of 2,077,477 shares, compared to its average volume of 3,846,003. The business's 50-day simple moving average is $0.90 and its 200-day simple moving average is $0.96. Blink Charging has a 12 month low of $0.63 and a 12 month high of $3.52. The firm has a market cap of $115.05 million, a P/E ratio of -0.56 and a beta of 3.22.

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

Institutional Investors Weigh In On Blink Charging

A number of institutional investors have recently made changes to their positions in BLNK. 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 valued at $1,088,000 after purchasing an additional 198,350 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Blink Charging by 14.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company's stock worth $1,301,000 after purchasing an additional 116,758 shares in the last quarter. AQR Capital Management LLC lifted its holdings in 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 purchasing an additional 873,989 shares in the last quarter. Northern Trust Corp increased its position in shares of Blink Charging by 1.7% during the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company's stock worth $1,104,000 after purchasing an additional 13,336 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Blink Charging during the first quarter worth about $506,000. Hedge funds and other institutional investors own 44.64% of the company's stock.

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.