Analysts Set Blink Charging Co. (NASDAQ:BLNK) PT at $6.00

Blink Charging Co. (NASDAQ:BLNK) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.00.

A number of equities research analysts have issued reports on the company. Benchmark began coverage on Blink Charging in a research report on Wednesday, July 31st. They set a “buy” rating and a $5.00 price target for the company. Stifel Nicolaus reduced their price objective 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. Needham & Company LLC dropped their target price on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. HC Wainwright reduced their price target on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, B. Riley upgraded shares of Blink Charging to a “hold” rating in a research note on Tuesday, June 25th.

Hedge Funds Weigh In On Blink Charging

A number of institutional investors and hedge funds have recently bought and sold shares of BLNK. BCGM Wealth Management LLC acquired a new position in shares of Blink Charging during the second quarter worth $27,000. Hsbc Holdings PLC acquired a new position in Blink Charging in the 2nd quarter worth $29,000. Principal Financial Group Inc. acquired a new position in Blink Charging in the 2nd quarter worth $30,000. Victory Capital Management Inc. purchased a new position in Blink Charging in the 2nd quarter valued at about $33,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Blink Charging during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Blink Charging Price Performance

Shares of BLNK stock opened at $1.84 on Monday. Blink Charging has a 1-year low of $1.53 and a 1-year high of $4.66. The firm’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $2.74. The firm has a market cap of $185.95 million, a P/E ratio of -0.64 and a beta of 2.66.

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

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.