Benchmark Cuts Blink Charging (NASDAQ:BLNK) Price Target to $2.00

Blink Charging (NASDAQ:BLNK) had its price target lowered by research analysts at Benchmark from $5.00 to $2.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 114.59% from the company’s previous close.

BLNK has been the topic of several other research reports. UBS Group cut their target price on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research note on Monday, January 27th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research note on Friday. Finally, Barclays dropped their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.71.

Blink Charging Price Performance

Shares of Blink Charging stock traded up $0.03 during trading on Friday, hitting $0.93. 612,850 shares of the company were exchanged, compared to its average volume of 4,941,660. The firm has a market capitalization of $94.30 million, a P/E ratio of -0.62 and a beta of 2.86. Blink Charging has a 1-year low of $0.87 and a 1-year high of $3.75. The firm’s fifty day moving average price is $1.22 and its 200 day moving average price is $1.57.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.02. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The business had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.77 million. During the same period in the previous year, the firm earned ($0.28) EPS. Blink Charging’s quarterly revenue was down 29.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Blink Charging will post -0.64 earnings per share for the current year.

Hedge Funds Weigh In On Blink Charging

Several institutional investors have recently added to or reduced their stakes in BLNK. Two Sigma Investments LP acquired a new position in shares of Blink Charging during the fourth quarter worth approximately $107,000. Man Group plc bought a new stake in Blink Charging during the fourth quarter worth $626,000. Millennium Management LLC bought a new stake in Blink Charging during the fourth quarter worth $43,000. Deutsche Bank AG grew its holdings in Blink Charging by 23.4% during the fourth quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock worth $137,000 after buying an additional 18,771 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Blink Charging during the fourth quarter worth $57,000. 44.64% of the stock is owned by institutional investors and hedge funds.

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.