Stifel Nicolaus Lowers Blink Charging (NASDAQ:BLNK) Price Target to $3.50

Blink Charging (NASDAQ:BLNK) had its target price reduced by investment analysts at Stifel Nicolaus from $4.00 to $3.50 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 61.29% from the company’s previous close.

A number of other brokerages have also issued reports on BLNK. Benchmark began coverage on Blink Charging in a research report on Wednesday, July 31st. They set a “buy” rating and a $5.00 target price on the stock. UBS Group decreased their price objective on shares of Blink Charging from $7.00 to $4.50 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Needham & Company LLC decreased their price target 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. HC Wainwright lowered their price objective on Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, B. Riley raised Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

Blink Charging Stock Performance

BLNK opened at $2.17 on Monday. The company has a fifty day moving average of $2.96 and a two-hundred day moving average of $2.90. Blink Charging has a fifty-two week low of $1.89 and a fifty-two week high of $5.78. The stock has a market capitalization of $219.30 million, a price-to-earnings ratio of -0.76 and a beta of 2.73.

Blink Charging (NASDAQ:BLNK) last announced 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). The business had revenue of $33.26 million during the quarter, compared to analysts’ expectations of $38.90 million. Blink Charging had a negative net margin of 122.09% and a negative return on equity of 25.12%. Blink Charging’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.44) EPS. On average, equities research analysts forecast that Blink Charging will post -0.4 earnings per share for the current year.

Institutional Trading of Blink Charging

Hedge funds have recently bought and sold shares of the business. BCGM Wealth Management LLC acquired a new stake in shares of Blink Charging in the second quarter valued at approximately $27,000. Hsbc Holdings PLC purchased a new stake in Blink Charging in the 2nd quarter valued at $29,000. Principal Financial Group Inc. acquired a new stake in shares of Blink Charging in the 2nd quarter worth $30,000. Victory Capital Management Inc. purchased a new position in shares of Blink Charging during the 2nd quarter worth $33,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Blink Charging in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.