Blink Charging Co. (NASDAQ:BLNK) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.64.

Several equities research analysts have commented on BLNK shares. Needham & Company LLC lowered Blink Charging from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Blink Charging in a research report on Tuesday, November 12th. Finally, UBS Group cut shares of Blink Charging from a “buy” rating to a “neutral” rating and reduced their price target for the company from $3.00 to $2.00 in a research report on Thursday, November 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BLNK. Hsbc Holdings PLC purchased a new stake in Blink Charging during the 2nd quarter worth $29,000. Principal Financial Group Inc. acquired a new stake in shares of Blink Charging during the second quarter valued at about $30,000. Victory Capital Management Inc. purchased a new stake in shares of Blink Charging during the second quarter worth about $33,000. DRW Securities LLC acquired a new position in shares of Blink Charging in the third quarter worth about $33,000. Finally, United Advisor Group LLC purchased a new position in Blink Charging in the third quarter valued at about $34,000. 44.64% of the stock is owned by institutional investors and hedge funds.

Blink Charging Stock Down 3.1 %

BLNK stock opened at $1.56 on Friday. The company has a market cap of $157.83 million, a price-to-earnings ratio of -1.03 and a beta of 2.61. The business has a fifty day simple moving average of $1.62 and a 200-day simple moving average of $2.06. Blink Charging has a 52 week low of $1.38 and a 52 week high of $3.75.

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.