Blink Charging - BLNK Stock Forecast, Price & News

Blink Charging Co., through its subsidiaries, owns, operates, 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. It also provides Blink Network, a cloud-based system that operates, maintains, and manages various Blink charging stations and associated charging data, back-end operations, and payment processing, as well as offers property owners, managers, parking companies, and state and municipal entities with cloud-based services that enable the remote monitoring and management of EV charging stations; and provides EV drivers with station information, including station location, availability, and applicable fees. In addition, the company provides EV charging hardware, software services, and service plans. It has strategic partnerships across transit/destination locations, including airports, auto dealers, healthcare/medicals, hotels, mixed-use, municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, religious institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations. The company offers its services through direct sales force and resellers, as well as sells residential Level 2 chargers through various internet channels. As of March 10, 2022, it deployed approximately 30,000 charging ports. Blink Charging Co. was founded in 2009 and is headquartered in Miami Beach, Florida.

Analyst Ratings Changes

A number of research firms recently issued reports on BLNK. B. Riley began coverage on Blink Charging in a report on Friday, June 17th. They set a "neutral" rating and a $15.00 price objective for the company. Tudor Pickering began coverage on Blink Charging in a report on Thursday, April 21st. They set a "hold" rating and a $24.00 price objective for the company. Tudor, Pickering, Holt & Co. started coverage on Blink Charging in a report on Thursday, April 21st. They set a "hold" rating and a $24.00 price objective for the company. Needham & Company LLC upped their target price on Blink Charging from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, June 15th. Finally, Stifel Nicolaus lowered their target price on Blink Charging from $30.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, June 22nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $29.00.

Blink Charging Stock Up 7.8 %

Shares of NASDAQ:BLNK traded up $1.66 during mid-day trading on Wednesday, reaching $23.11. 1,464,223 shares of the company were exchanged, compared to its average volume of 1,238,760. The stock has a market cap of $987.74 million, a price-to-earnings ratio of -15.51 and a beta of 3.37. Blink Charging has a 1 year low of $13.60 and a 1 year high of $49.00. The firm has a 50-day moving average of $18.01 and a 200 day moving average of $20.47.

Blink Charging (NASDAQ:BLNK - Get Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.04. The firm had revenue of $9.80 million during the quarter, compared to analysts' expectations of $6.81 million. Blink Charging had a negative return on equity of 28.84% and a negative net margin of 220.64%. The firm's quarterly revenue was up 345.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) EPS. On average, equities analysts forecast that Blink Charging will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jack Levine acquired 6,000 shares of the firm's stock in a transaction that occurred on Friday, June 24th. The stock was purchased at an average cost of $18.18 per share, for a total transaction of $109,080.00. Following the purchase, the director now directly owns 110,996 shares of the company's stock, valued at approximately $2,017,907.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is currently owned by company insiders.