Blink Charging (NASDAQ:BLNK) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Blink Charging (NASDAQ:BLNK - Free Report) in a report published on Wednesday morning, Benzinga reports. They currently have a $7.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. DA Davidson restated a neutral rating and set a $5.00 target price on shares of Blink Charging in a research report on Friday, March 15th. Roth Mkm dropped their price objective on shares of Blink Charging from $25.00 to $12.00 and set a buy rating for the company in a research note on Friday, March 15th. Finally, HC Wainwright decreased 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 report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Blink Charging has an average rating of Moderate Buy and a consensus target price of $9.00.

Blink Charging Trading Up 0.4 %

NASDAQ:BLNK traded up $0.01 during trading hours on Wednesday, reaching $2.38. The company had a trading volume of 2,842,942 shares, compared to its average volume of 7,206,396. The firm has a market cap of $240.36 million, a price-to-earnings ratio of -0.74 and a beta of 2.77. The firm's 50 day moving average price is $2.90 and its 200-day moving average price is $2.96. Blink Charging has a 52 week low of $2.18 and a 52 week high of $7.82.

Blink Charging (NASDAQ:BLNK - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.12. Blink Charging had a negative net margin of 144.88% and a negative return on equity of 29.26%. The firm had revenue of $42.71 million for the quarter, compared to analysts' expectations of $43.63 million. On average, analysts forecast that Blink Charging will post -0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several hedge funds have recently made changes to their positions in BLNK. Vident Investment Advisory LLC raised its holdings in shares of Blink Charging by 2.9% in the fourth quarter. Vident Investment Advisory LLC now owns 37,503 shares of the company's stock valued at $411,000 after acquiring an additional 1,053 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Blink Charging by 5.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,845 shares of the company's stock worth $284,000 after purchasing an additional 1,646 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Blink Charging by 73.5% in the 1st quarter. US Bancorp DE now owns 4,090 shares of the company's stock valued at $108,000 after buying an additional 1,733 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Blink Charging by 18.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,877 shares of the company's stock worth $229,000 after purchasing an additional 2,181 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Blink Charging by 8.1% during the third quarter. Commonwealth Equity Services LLC now owns 32,321 shares of the company's stock worth $572,000 after purchasing an additional 2,425 shares in the last quarter. 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.