Blink Charging (NASDAQ:BLNK) PT Lowered to $8.00 at HC Wainwright

Blink Charging (NASDAQ:BLNK) had its price objective decreased by HC Wainwright from $15.00 to $8.00 in a report published on Friday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms also recently commented on BLNK. Needham & Company LLC decreased their target price on Blink Charging from $6.00 to $4.00 and set a buy rating for the company in a report on Thursday. Stifel Nicolaus reaffirmed a hold rating and set a $4.00 target price on shares of Blink Charging in a report on Thursday, May 16th. UBS Group decreased their target price on Blink Charging from $7.00 to $4.50 and set a buy rating for the company in a report on Tuesday, May 21st. Benchmark started coverage on Blink Charging in a report on Wednesday, July 31st. They issued a buy rating and a $5.00 price target for the company. Finally, B. Riley raised Blink Charging to a hold rating in a report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $6.07.

Blink Charging Price Performance

NASDAQ BLNK traded down $0.13 during trading on Friday, hitting $2.00. The company’s stock had a trading volume of 8,690,304 shares, compared to its average volume of 6,151,917. The company has a market cap of $202.12 million, a PE ratio of -0.70 and a beta of 2.73. The business’s 50 day simple moving average is $3.00 and its 200-day simple moving average is $2.90. Blink Charging has a fifty-two week low of $1.95 and a fifty-two week high of $6.78.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. The business had revenue of $33.26 million during the quarter, compared to analyst estimates of $38.90 million. During the same period in the prior year, the business posted ($0.44) EPS. Blink Charging’s revenue was up 1.3% compared to the same quarter last year. Analysts expect that Blink Charging will post -0.4 EPS for the current fiscal year.

Institutional Trading of Blink Charging

A number of institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its position in shares of Blink Charging by 63.4% in the second quarter. American Century Companies Inc. now owns 72,840 shares of the company’s stock valued at $200,000 after buying an additional 28,265 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Blink Charging in the second quarter valued at approximately $33,000. Rhumbline Advisers increased its position in shares of Blink Charging by 70.5% in the second quarter. Rhumbline Advisers now owns 133,055 shares of the company’s stock valued at $365,000 after buying an additional 55,014 shares in the last quarter. BCGM Wealth Management LLC purchased a new stake in shares of Blink Charging in the second quarter valued at approximately $27,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Blink Charging in the second quarter valued at approximately $30,000. 44.64% of the stock is currently owned by hedge funds and other 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.