Blink Charging (NASDAQ:BLNK) PT Lowered to $5.00

Blink Charging (NASDAQ:BLNK - Free Report) had its target price trimmed by Needham & Company LLC from $7.00 to $5.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently issued reports on BLNK. HC Wainwright cut their target price on shares of Blink Charging from $25.00 to $15.00 and set a buy rating on the stock in a research note on Monday, March 18th. Roth Mkm decreased their price target on shares of Blink Charging from $25.00 to $12.00 and set a buy rating for the company in a report on Friday, March 15th. Finally, DA Davidson reaffirmed a neutral rating and set a $5.00 price objective on shares of Blink Charging in a research report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Blink Charging presently has an average rating of Moderate Buy and a consensus target price of $8.71.

Blink Charging Stock Down 0.7 %

BLNK traded down $0.02 during trading on Friday, reaching $2.82. The stock had a trading volume of 8,104,547 shares, compared to its average volume of 6,691,707. The firm has a market capitalization of $284.79 million, a price-to-earnings ratio of -0.88 and a beta of 2.82. Blink Charging has a 1-year low of $2.18 and a 1-year high of $7.70. The stock has a 50 day moving average of $2.75 and a two-hundred day moving average of $2.90.

Blink Charging (NASDAQ:BLNK - Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.12. The company had revenue of $42.71 million for the quarter, compared to analysts' expectations of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. On average, research analysts forecast that Blink Charging will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLNK. SG Americas Securities LLC acquired a new stake in shares of Blink Charging during the third quarter worth approximately $115,000. Bank of New York Mellon Corp increased its holdings in shares of Blink Charging by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 213,144 shares of the company's stock worth $652,000 after buying an additional 12,022 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Blink Charging during the third quarter worth approximately $110,000. Fox Run Management L.L.C. acquired a new stake in shares of Blink Charging during the third quarter worth approximately $94,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Blink Charging by 2,961.0% during the third quarter. Clearstead Advisors LLC now owns 9,183 shares of the company's stock worth $28,000 after buying an additional 8,883 shares in the last quarter. 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.