Brokerages Set Blink Charging Co. (NASDAQ:BLNK) Target Price at $5.79

Shares of Blink Charging Co. (NASDAQ:BLNK) have received a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $5.79.

Several research analysts recently commented on BLNK shares. HC Wainwright lowered their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Needham & Company LLC cut their target price on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Benchmark began coverage on shares of Blink Charging in a report on Wednesday, July 31st. They set a “buy” rating and a $5.00 price target for the company. UBS Group reduced their price objective on shares of Blink Charging from $4.50 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Stifel Nicolaus cut their price target on Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Monday, August 12th.

Blink Charging Stock Performance

Shares of BLNK opened at $1.98 on Tuesday. The company’s 50-day simple moving average is $1.88 and its 200-day simple moving average is $2.51. Blink Charging has a 1 year low of $1.53 and a 1 year high of $4.66. The stock has a market capitalization of $200.28 million, a PE ratio of -0.69 and a beta of 2.66.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The business had revenue of $33.26 million for the quarter, compared to analyst estimates of $38.90 million. Blink Charging had a negative return on equity of 22.70% and a negative net margin of 108.11%. Blink Charging’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.44) earnings per share. On average, sell-side analysts predict that Blink Charging will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Blink Charging

In other news, Director Jack Levine bought 20,000 shares of Blink Charging stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $1.70 per share, with a total value of $34,000.00. Following the acquisition, the director now owns 175,718 shares of the company’s stock, valued at approximately $298,720.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Kristina A. Peterson sold 24,077 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack Levine acquired 20,000 shares of the stock in a transaction on Thursday, September 26th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following the completion of the transaction, the director now directly owns 175,718 shares in the company, valued at $298,720.60. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blink Charging

Hedge funds have recently made changes to their positions in the business. BCGM Wealth Management LLC purchased a new stake in Blink Charging during the 2nd quarter valued at approximately $27,000. Hsbc Holdings PLC purchased a new stake in shares of Blink Charging during the second quarter worth approximately $29,000. Principal Financial Group Inc. acquired a new stake in shares of Blink Charging during the second quarter worth $30,000. Victory Capital Management Inc. acquired a new stake in shares of Blink Charging during the second quarter worth $33,000. Finally, United Advisor Group LLC purchased a new position in Blink Charging in the 3rd quarter valued at $34,000. 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.