Blink Charging (NASDAQ:BLNK) Lowered to Neutral Rating by UBS Group

UBS Group downgraded shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a neutral rating in a report issued on Thursday morning, Marketbeat Ratings reports. The firm currently has $2.00 target price on the stock, down from their prior target price of $3.00.

A number of other research analysts also recently weighed in on BLNK. Needham & Company LLC dropped their price target on Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a research report on Tuesday. HC Wainwright cut their price target on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Stifel Nicolaus reduced their target price on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.64.

Blink Charging Stock Performance

Shares of NASDAQ:BLNK traded down $0.09 during mid-day trading on Thursday, hitting $1.53. The company had a trading volume of 5,068,103 shares, compared to its average volume of 5,683,286. The firm has a fifty day moving average price of $1.88 and a 200 day moving average price of $2.48. Blink Charging has a one year low of $1.51 and a one year high of $4.66.

Insider Buying and Selling

In other Blink Charging news, Director Jack Levine purchased 20,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $1.70 per share, with a total value of $34,000.00. Following the acquisition, the director now owns 175,718 shares in the company, valued at approximately $298,720.60. This trade represents a 12.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina A. Peterson sold 24,077 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $1.80, for a total value of $43,338.60. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Blink Charging by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock worth $9,809,000 after purchasing an additional 365,098 shares during the period. AQR Capital Management LLC grew its holdings in Blink Charging by 224.9% during the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock worth $2,206,000 after acquiring an additional 557,336 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Blink Charging by 36.3% in the 1st quarter. BNP Paribas Financial Markets now owns 39,601 shares of the company’s stock valued at $119,000 after purchasing an additional 10,554 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Blink Charging by 48.9% in the 1st quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock worth $79,000 after purchasing an additional 8,668 shares during the period. Finally, CWM LLC boosted its stake in shares of Blink Charging by 60.2% during the second quarter. CWM LLC now owns 15,520 shares of the company’s stock valued at $43,000 after purchasing an additional 5,834 shares in the last quarter. 44.64% of the stock is currently owned by 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.