Stifel Nicolaus Issues Pessimistic Forecast for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK - Free Report) had its target price lowered by Stifel Nicolaus from $2.00 to $1.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the stock. HC Wainwright reduced their price objective on shares of Blink Charging from $8.00 to $5.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. UBS Group reduced their price objective on shares of Blink Charging from $1.00 to $0.80 and set a "neutral" rating for the company in a report on Thursday, April 17th. Needham & Company LLC reissued a "hold" rating on shares of Blink Charging in a report on Tuesday, May 13th. Barclays cut their price target on shares of Blink Charging from $3.00 to $1.50 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Finally, Roth Mkm reissued a "buy" rating and set a $3.00 price target (down from $4.00) on shares of Blink Charging in a report on Friday, March 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $2.47.

Blink Charging Stock Down 2.8%

Blink Charging stock traded down $0.02 during mid-day trading on Tuesday, reaching $0.72. The company had a trading volume of 1,196,097 shares, compared to its average volume of 4,374,330. Blink Charging has a 52 week low of $0.63 and a 52 week high of $3.75. The company has a 50 day moving average of $0.77 and a 200-day moving average of $1.13. The firm has a market cap of $73.81 million, a price-to-earnings ratio of -0.48 and a beta of 3.34.

Blink Charging (NASDAQ:BLNK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.04). Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The company had revenue of $20.75 million during the quarter, compared to the consensus estimate of $27.60 million. On average, analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in Blink Charging by 20.1% in the 1st quarter. Invesco Ltd. now owns 1,185,794 shares of the company's stock valued at $1,088,000 after acquiring an additional 198,350 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Blink Charging by 14.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company's stock valued at $1,301,000 after acquiring an additional 116,758 shares in the last quarter. AQR Capital Management LLC increased its position in Blink Charging by 8,386.8% in the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company's stock valued at $812,000 after acquiring an additional 873,989 shares in the last quarter. Northern Trust Corp increased its position in Blink Charging by 1.7% in the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company's stock valued at $1,104,000 after acquiring an additional 13,336 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Blink Charging in the 1st quarter valued at about $506,000. Institutional investors and hedge funds own 44.64% of the company's stock.

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.