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

Blink Charging (NASDAQ:BLNK) had its target price dropped by stock analysts at Benchmark from $5.00 to $2.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 109.60% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Blink Charging in a research report on Friday. Barclays cut their price objective on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group cut their price objective on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.39.

Blink Charging Trading Up 6.0 %

Shares of BLNK opened at $0.95 on Friday. The stock has a market capitalization of $96.54 million, a P/E ratio of -0.63 and a beta of 2.86. The firm’s fifty day simple moving average is $1.19 and its two-hundred day simple moving average is $1.55. Blink Charging has a 12 month low of $0.87 and a 12 month high of $3.75.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The business had revenue of $30.20 million for the quarter, compared to analysts’ expectations of $30.77 million. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The business’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. As a group, research analysts predict that Blink Charging will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors and hedge funds have recently made changes to their positions in BLNK. DRW Securities LLC acquired a new stake in shares of Blink Charging in the 3rd quarter worth about $33,000. Millennium Management LLC purchased a new stake in Blink Charging in the 4th quarter valued at about $43,000. Verition Fund Management LLC purchased a new stake in Blink Charging in the 3rd quarter valued at about $48,000. Intech Investment Management LLC purchased a new stake in Blink Charging in the 3rd quarter valued at about $52,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Blink Charging in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.