Blink Charging (NASDAQ:BLNK) Earns “Buy” Rating from Needham & Company LLC

Blink Charging (NASDAQ:BLNK)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports.

Several other analysts also recently issued reports on the company. UBS Group downgraded Blink Charging from a “buy” rating to a “neutral” rating and cut their price target for the stock from $3.00 to $2.00 in a report on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.64.

Blink Charging Price Performance

NASDAQ:BLNK opened at $1.47 on Wednesday. The business’s 50 day moving average is $1.58 and its two-hundred day moving average is $2.03. Blink Charging has a 52 week low of $1.38 and a 52 week high of $3.75. The company has a market cap of $148.73 million, a PE ratio of -0.97 and a beta of 2.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new position in shares of Blink Charging during the second quarter valued at $29,000. Victory Capital Management Inc. purchased a new position in shares of Blink Charging during the second quarter valued at $33,000. DRW Securities LLC purchased a new position in shares of Blink Charging during the third quarter valued at $33,000. United Advisor Group LLC purchased a new position in shares of Blink Charging during the third quarter valued at $34,000. Finally, Verition Fund Management LLC purchased a new position in shares of Blink Charging during the third quarter valued at $48,000. 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.