Blink Charging's (BLNK) "Hold" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Blink Charging (NASDAQ:BLNK - Free Report) in a report issued on Tuesday morning,Benzinga reports.

Several other research firms also recently commented on BLNK. UBS Group reduced their price objective on Blink Charging from $1.00 to $0.80 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barclays cut their price target on 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 cut their price target on Blink Charging from $3.50 to $2.00 and set a "hold" rating on the stock in a report on Wednesday, March 26th. Benchmark cut their price target on Blink Charging from $5.00 to $2.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Roth Mkm reiterated a "buy" rating and issued a $3.00 price target (down from $4.00) on shares of Blink Charging in a report on Friday, March 14th. Five 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, the stock has an average rating of "Hold" and an average price target of $2.61.

Blink Charging Trading Up 0.7%

Shares of NASDAQ BLNK traded up $0.00 during midday trading on Tuesday, hitting $0.72. The company's stock had a trading volume of 149,271 shares, compared to its average volume of 4,475,057. The business's 50 day moving average is $0.83 and its two-hundred day moving average is $1.23. Blink Charging has a 12-month low of $0.63 and a 12-month high of $3.75. The firm has a market cap of $73.55 million, a P/E ratio of -0.47 and a beta of 3.34.

Blink Charging (NASDAQ:BLNK - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. The company had revenue of $30.20 million for the quarter, compared to the consensus estimate of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. Blink Charging's quarterly revenue was down 29.3% on a year-over-year basis. During the same period last year, the business posted ($0.28) EPS. On average, analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Blink Charging by 8,386.8% during the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company's stock worth $812,000 after acquiring an additional 873,989 shares during the period. Ieq Capital LLC acquired a new stake in Blink Charging during the 1st quarter worth about $78,000. Nuveen LLC acquired a new stake in Blink Charging during the 1st quarter worth about $506,000. Invesco Ltd. lifted its position 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 acquiring an additional 198,350 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Blink Charging in the 1st quarter valued at about $35,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.