Blink Charging Co. (NASDAQ:BLNK) Given Consensus Recommendation of “Hold” by Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $5.64.

Several equities research analysts have weighed in on the stock. Needham & Company LLC downgraded shares of Blink Charging from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Benchmark reissued a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a research report on Tuesday, November 12th. Finally, UBS Group lowered Blink Charging from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.00 to $2.00 in a research report on Thursday, November 14th.

Blink Charging Stock Performance

NASDAQ:BLNK opened at $1.52 on Wednesday. The company’s 50-day simple moving average is $1.76 and its 200-day simple moving average is $2.18. Blink Charging has a fifty-two week low of $1.42 and a fifty-two week high of $4.48. The stock has a market capitalization of $153.79 million, a P/E ratio of -1.01 and a beta of 2.58.

Insider Buying and Selling at Blink Charging

In other Blink Charging news, Director Jack Levine acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following the purchase, the director now owns 175,718 shares in the company, valued at approximately $298,720.60. The trade was a 12.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in Blink Charging during the 3rd quarter worth about $96,000. Barclays PLC grew its holdings in Blink Charging by 238.4% during the third quarter. Barclays PLC now owns 173,704 shares of the company’s stock worth $299,000 after acquiring an additional 122,367 shares during the period. Geode Capital Management LLC raised its position in Blink Charging by 10.7% during the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after acquiring an additional 222,949 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in Blink Charging in the third quarter valued at approximately $90,000. Finally, XTX Topco Ltd purchased a new stake in Blink Charging in the 3rd quarter worth approximately $129,000. Hedge funds and other institutional investors 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.