Blink Charging FY2029 EPS Forecast Lowered by HC Wainwright

Key Points

• HC Wainwright has reduced its FY2029 earnings estimates for Blink Charging to $0.06 per share, down from $0.09, while maintaining a "Buy" rating with a target price of $5.00.
• Blink Charging's stock has recently declined by 9.7%, trading at approximately $0.93, with a consensus rating of "Hold" and a target price of $2.13.
• The company reported a loss of $0.26 EPS for the last quarter, missing estimates, despite a revenue of $28.67 million that exceeded expectations.

Blink Charging Co. (NASDAQ:BLNK - Free Report) - Stock analysts at HC Wainwright dropped their FY2029 EPS estimates for shares of Blink Charging in a note issued to investors on Tuesday, August 19th. HC Wainwright analyst S. Joshi now expects that the company will post earnings of $0.06 per share for the year, down from their previous estimate of $0.09. HC Wainwright currently has a "Buy" rating and a $5.00 price target on the stock. The consensus estimate for Blink Charging's current full-year earnings is ($0.64) per share.

Blink Charging (NASDAQ:BLNK - Get Free Report) last posted its earnings results on Monday, August 18th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $28.67 million for the quarter, compared to analyst estimates of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%.

BLNK has been the topic of a number of other research reports. Barclays cut 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 report on Wednesday, July 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Blink Charging in a report on Tuesday. Finally, Stifel Nicolaus cut their price objective on shares of Blink Charging from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Blink Charging has a consensus rating of "Hold" and an average target price of $2.13.

Blink Charging Stock Performance

Shares of NASDAQ:BLNK traded up $0.06 during midday trading on Wednesday, hitting $0.97. 3,270,570 shares of the company's stock traded hands, compared to its average volume of 2,336,576. The company has a market cap of $101.57 million, a PE ratio of -0.46 and a beta of 2.96. The firm's fifty day moving average price is $0.97 and its two-hundred day moving average price is $0.91. Blink Charging has a twelve month low of $0.63 and a twelve month high of $2.32.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP raised its stake in shares of Blink Charging by 58.8% in the 2nd 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 in the last quarter. Jump Financial LLC acquired a new stake in Blink Charging during the second quarter worth about $60,000. Marshall Wace LLP acquired a new stake in Blink Charging during the second quarter worth about $119,000. XTX Topco Ltd acquired a new stake in Blink Charging during the second quarter worth about $384,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in Blink Charging by 62.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company's stock worth $57,000 after acquiring an additional 23,438 shares during the period. Institutional investors and hedge funds 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.