Blink Charging’s (BLNK) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Blink Charging (NASDAQ:BLNK) in a research note released on Friday,Benzinga reports.

BLNK has been the topic of several other reports. Barclays lowered their price objective on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. UBS Group lowered their price objective on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and three 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 a consensus target price of $3.39.

Blink Charging Stock Up 6.0 %

Shares of Blink Charging stock opened at $0.95 on Friday. Blink Charging has a twelve month low of $0.87 and a twelve month high of $3.75. The business has a 50-day moving average price of $1.19 and a 200 day moving average price of $1.55. The firm has a market cap of $96.54 million, a PE ratio of -0.63 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results 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 firm had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.77 million. During the same quarter in the previous year, the business earned ($0.28) EPS. Blink Charging’s revenue for the quarter was down 29.3% compared to the same quarter last year. On average, sell-side analysts expect that Blink Charging will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in shares of Blink Charging during the 3rd quarter valued at approximately $52,000. Charles Schwab Investment Management Inc. raised its position in shares of Blink Charging by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock valued at $1,409,000 after buying an additional 79,969 shares during the period. Swedbank AB raised its position in shares of Blink Charging by 57.0% during the 3rd quarter. Swedbank AB now owns 225,516 shares of the company’s stock valued at $388,000 after buying an additional 81,894 shares during the period. DRW Securities LLC purchased a new stake in shares of Blink Charging during the 3rd quarter valued at approximately $33,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Blink Charging by 8.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,415 shares of the company’s stock valued at $200,000 after buying an additional 9,551 shares during the period. 44.64% of the stock is currently 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.