Brokerages Set Blink Charging Co. (NASDAQ:BLNK) PT at $9.00

Shares of Blink Charging Co. (NASDAQ:BLNK) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.00.

A number of equities analysts have commented on BLNK shares. Roth Mkm reduced their price objective on Blink Charging from $25.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. DA Davidson reissued a “neutral” rating and issued a $5.00 price objective on shares of Blink Charging in a research note on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price objective on shares of Blink Charging in a research note on Friday, March 15th. Finally, HC Wainwright reduced their price objective on Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 18th.

Blink Charging Stock Up 3.5 %

Shares of BLNK stock opened at $2.37 on Friday. Blink Charging has a 12 month low of $2.18 and a 12 month high of $8.03. The firm has a market cap of $239.35 million, a PE ratio of -0.74 and a beta of 2.77. The stock has a 50 day moving average of $2.90 and a 200-day moving average of $2.96.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.12. The business had revenue of $42.71 million for the quarter, compared to analysts’ expectations of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. As a group, equities analysts predict that Blink Charging will post -0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently bought and sold shares of BLNK. PNC Financial Services Group Inc. lifted its stake in shares of Blink Charging by 112.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock valued at $33,000 after purchasing an additional 5,761 shares during the period. Teza Capital Management LLC acquired a new position in shares of Blink Charging in the 3rd quarter valued at about $34,000. Invesco Ltd. lifted its stake in shares of Blink Charging by 35.8% in the 3rd quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock valued at $6,601,000 after purchasing an additional 568,417 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Blink Charging by 101.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 62,369 shares of the company’s stock valued at $191,000 after purchasing an additional 31,416 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Blink Charging in the 3rd quarter valued at about $146,000. Institutional investors own 44.64% of the company’s stock.

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.