Barclays Has Lowered Expectations for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK) had its target price lowered by research analysts at Barclays from $3.00 to $1.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 30.43% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Blink Charging in a research report on Wednesday, January 15th. UBS Group lowered their price objective on Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Blink Charging in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.09.

Blink Charging Price Performance

Shares of BLNK opened at $1.15 on Tuesday. The firm has a 50 day simple moving average of $1.48 and a two-hundred day simple moving average of $1.84. The company has a market cap of $116.36 million, a P/E ratio of -0.76 and a beta of 2.59. Blink Charging has a one year low of $1.14 and a one year high of $3.75.

Hedge Funds Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in shares of Blink Charging by 224.9% during the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after acquiring an additional 557,336 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Blink Charging by 10.7% in the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after purchasing an additional 222,949 shares during the last quarter. Stifel Financial Corp grew its position in Blink Charging by 14.7% in the 3rd quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after purchasing an additional 180,027 shares during the period. Quadrature Capital Ltd purchased a new stake in Blink Charging during the 3rd quarter valued at $213,000. Finally, Barclays PLC lifted 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 buying an additional 122,367 shares during the period. 44.64% of the stock is owned by institutional investors.

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.