Blink Charging (NASDAQ:BLNK) Price Target Lowered to $2.00 at Stifel Nicolaus

Blink Charging (NASDAQ:BLNK) had its price target decreased by Stifel Nicolaus from $3.50 to $2.00 in a report published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other equities research analysts also recently commented on BLNK. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a research report on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research note on Friday, March 14th. Benchmark lowered their price target on Blink Charging from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, March 14th. UBS Group reduced their price objective on Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $3.00 target price (down previously from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.17.

Blink Charging Price Performance

Shares of NASDAQ:BLNK opened at $0.94 on Wednesday. The stock has a market cap of $94.69 million, a price-to-earnings ratio of -0.62 and a beta of 2.86. Blink Charging has a 12 month low of $0.87 and a 12 month high of $3.75. The stock’s 50 day moving average price is $1.08 and its 200 day moving average price is $1.50.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.03. 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 quarter in the prior year, the firm posted ($0.28) earnings per share. The company’s revenue was down 29.3% on a year-over-year basis. On average, sell-side analysts expect that Blink Charging will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Blink Charging by 10.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after buying an additional 222,949 shares in the last quarter. Barclays PLC raised its holdings in shares of Blink Charging by 238.4% during the 3rd quarter. Barclays PLC now owns 173,704 shares of the company’s stock valued at $299,000 after purchasing an additional 122,367 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Blink Charging in the 3rd quarter valued at $48,000. Charles Schwab Investment Management Inc. boosted its holdings in Blink Charging by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock worth $1,409,000 after purchasing an additional 79,969 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in Blink Charging in the third quarter worth $90,000. 44.64% of the stock is owned by institutional investors and hedge funds.

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.