Blink Charging (NASDAQ:BLNK) Rating Increased to Hold at B. Riley

Blink Charging (NASDAQ:BLNK) was upgraded by research analysts at B. Riley to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

BLNK has been the topic of a number of other research reports. HC Wainwright dropped their price target on shares of Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 18th. UBS Group dropped their price objective on shares of Blink Charging from $7.00 to $4.50 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Roth Mkm dropped their price objective on shares of Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Needham & Company LLC dropped their price objective on shares of Blink Charging from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $4.00 price objective on shares of Blink Charging in a report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blink Charging presently has an average rating of “Moderate Buy” and an average price target of $7.50.

Blink Charging Price Performance

NASDAQ:BLNK opened at $2.69 on Tuesday. The firm’s 50-day moving average price is $2.93 and its 200-day moving average price is $2.90. The company has a market capitalization of $271.85 million, a PE ratio of -0.94 and a beta of 2.76. Blink Charging has a 1-year low of $2.18 and a 1-year high of $7.25.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.10. The company had revenue of $37.57 million for the quarter, compared to analysts’ expectations of $33.74 million. Blink Charging had a negative net margin of 122.09% and a negative return on equity of 25.12%. Equities analysts anticipate that Blink Charging will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its position in shares of Blink Charging by 12.0% during the 3rd quarter. Swiss National Bank now owns 123,000 shares of the company’s stock valued at $376,000 after acquiring an additional 13,200 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Blink Charging by 112.9% during the third quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock valued at $33,000 after purchasing an additional 5,761 shares during the last quarter. Invesco Ltd. grew its stake in shares of Blink Charging by 35.8% in the 3rd quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock worth $6,601,000 after buying an additional 568,417 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Blink Charging by 39.0% in the 3rd quarter. Stifel Financial Corp now owns 890,505 shares of the company’s stock worth $2,725,000 after buying an additional 249,810 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new stake in shares of Blink Charging during the 3rd quarter valued at about $34,000. 44.64% of the stock is currently owned by institutional investors.

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.