Analysts Set Blink Charging Co. (NASDAQ:BLNK) Target Price at $5.64

Shares of Blink Charging Co. (NASDAQ:BLNK) have received an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.64.

Several analysts have issued reports on BLNK shares. UBS Group lowered Blink Charging from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $3.00 to $2.00 in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Blink Charging in a report on Tuesday, November 12th. Needham & Company LLC downgraded shares of Blink Charging from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Stifel Nicolaus dropped their price objective on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Finally, HC Wainwright reduced their target price on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Blink Charging Price Performance

Blink Charging stock opened at $1.62 on Friday. Blink Charging has a fifty-two week low of $1.48 and a fifty-two week high of $4.48. The firm has a market capitalization of $163.91 million, a PE ratio of -1.07 and a beta of 2.65. The company’s 50-day moving average is $1.86 and its 200-day moving average is $2.41.

Insider Buying and Selling

In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack Levine bought 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was purchased at an average price of $1.70 per share, with a total value of $34,000.00. Following the completion of the transaction, the director now directly owns 175,718 shares in the company, valued at approximately $298,720.60. This represents a 12.84 % increase in their position. The disclosure for this purchase can be found here. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BCGM Wealth Management LLC bought a new position in shares of Blink Charging in the 2nd quarter valued at $27,000. Hsbc Holdings PLC bought a new position in Blink Charging in the second quarter valued at about $29,000. Principal Financial Group Inc. acquired a new position in Blink Charging during the second quarter worth about $30,000. Victory Capital Management Inc. bought a new position in shares of Blink Charging in the second quarter worth about $33,000. Finally, Cetera Advisors LLC boosted its stake in shares of Blink Charging by 36.1% in the 1st quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock valued at $42,000 after purchasing an additional 3,673 shares in the last quarter. 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.