Blink Charging’s (BLNK) Hold Rating Reaffirmed at Needham & Company LLC

Blink Charging (NASDAQ:BLNK)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Other research analysts have also recently issued reports about the stock. UBS Group reduced their price target on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Barclays lowered their target price on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Blink Charging presently has a consensus rating of “Hold” and an average price target of $5.09.

Blink Charging Price Performance

BLNK opened at $0.90 on Friday. The stock has a market capitalization of $91.09 million, a price-to-earnings ratio of -0.60 and a beta of 2.86. Blink Charging has a 12 month low of $0.87 and a 12 month high of $3.75. The business has a 50-day moving average of $1.22 and a two-hundred day moving average of $1.57.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. During the same quarter last year, the business earned ($0.28) EPS. Blink Charging’s revenue for the quarter was down 29.3% on a year-over-year basis. Equities research analysts anticipate that Blink Charging will post -0.64 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Man Group plc bought a new position in Blink Charging during the fourth quarter worth $626,000. Geode Capital Management LLC raised its stake in Blink Charging by 10.7% during the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after acquiring an additional 222,949 shares during the period. Stifel Financial Corp lifted its holdings in Blink Charging by 14.7% in the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after acquiring an additional 180,027 shares during the last quarter. Invesco Ltd. lifted its holdings in Blink Charging by 19.4% in the fourth quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock worth $1,373,000 after acquiring an additional 160,251 shares during the last quarter. Finally, Caption Management LLC acquired a new position in Blink Charging during the 4th quarter valued at approximately $180,000. 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.