Blink Charging Co. (NASDAQ:BLNK) Receives $3.04 Consensus Target Price from Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK - Get Free Report) have been given an average rating of "Hold" by the eight ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $3.04.

BLNK has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Blink Charging in a research report on Friday, March 14th. Benchmark dropped their price objective on shares of Blink Charging from $5.00 to $2.00 and set a "buy" rating for the company in a report on Friday, March 14th. Roth Mkm reaffirmed a "buy" rating and set a $3.00 price target (down previously from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Stifel Nicolaus cut their target price on Blink Charging from $3.50 to $2.00 and set a "hold" rating for the company in a research note on Wednesday, March 26th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.00 target price on shares of Blink Charging in a report on Friday, March 14th.

Blink Charging Trading Up 3.1 %

Shares of NASDAQ BLNK traded up $0.02 during midday trading on Tuesday, hitting $0.79. The company's stock had a trading volume of 4,801,834 shares, compared to its average volume of 4,677,557. The stock has a fifty day moving average price of $0.90 and a 200 day moving average price of $1.36. The firm has a market capitalization of $81.56 million, a price-to-earnings ratio of -0.53 and a beta of 2.94. Blink Charging has a one year low of $0.63 and a one year high of $3.75.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.03. The company had revenue of $30.20 million during the quarter, compared to analysts' expectations of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The firm's quarterly revenue was down 29.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, equities research analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in Blink Charging by 238.4% during the 3rd quarter. Barclays PLC now owns 173,704 shares of the company's stock valued at $299,000 after purchasing an additional 122,367 shares in the last quarter. Geode Capital Management LLC boosted its stake in Blink Charging by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company's stock valued at $3,982,000 after purchasing an additional 222,949 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Blink Charging in the third quarter worth $96,000. Swedbank AB boosted its position in shares of Blink Charging by 45.2% during the fourth quarter. Swedbank AB now owns 327,552 shares of the company's stock valued at $455,000 after buying an additional 102,036 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Blink Charging by 14.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company's stock valued at $1,301,000 after acquiring an additional 116,758 shares during the period. Hedge funds and other institutional investors 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.