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

Key Points

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Blink Charging (NASDAQ:BLNK - Get Free Report)'s stock had its "hold" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports.

Several other equities research analysts also recently issued reports on BLNK. HC Wainwright restated a "buy" rating and issued a $5.00 price objective on shares of Blink Charging in a research note on Tuesday. Stifel Nicolaus lowered their price objective on shares of Blink Charging from $2.00 to $1.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Finally, Barclays lowered their price objective on shares of Blink Charging from $1.50 to $1.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Blink Charging currently has a consensus rating of "Hold" and a consensus price target of $2.13.

Blink Charging Trading Up 9.6%

Shares of Blink Charging stock opened at $1.03 on Tuesday. The company's fifty day simple moving average is $0.96 and its 200-day simple moving average is $0.91. The company has a market cap of $105.80 million, a price-to-earnings ratio of -0.52 and a beta of 2.96. Blink Charging has a 1 year low of $0.63 and a 1 year high of $2.32.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced its quarterly earnings data on Monday, August 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $28.67 million during the quarter, compared to analyst estimates of $22.46 million. Blink Charging had a negative return on equity of 39.14% and a negative net margin of 184.37%. As a group, research analysts forecast that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP increased its stake in shares of Blink Charging by 58.8% in the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company's stock valued at $28,000 after buying an additional 10,851 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Blink Charging in the fourth quarter valued at $43,000. Cerity Partners LLC acquired a new stake in shares of Blink Charging in the first quarter valued at $30,000. Wealth Enhancement Advisory Services LLC bought a new position in Blink Charging in the 1st quarter worth approximately $30,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Blink Charging during the 1st quarter worth $35,000. 44.64% of the stock is owned by institutional investors.

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.

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