Blink Charging (NASDAQ:BLNK) Downgraded to Neutral Rating by UBS Group

Blink Charging (NASDAQ:BLNK - Get Free Report) was downgraded by equities research analysts at UBS Group from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $2.00 price target on the stock, down from their previous price target of $3.00. UBS Group's price objective suggests a potential upside of 24.22% from the stock's current price.

A number of other analysts also recently commented on BLNK. Needham & Company LLC dropped their price target on shares of Blink Charging from $6.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. HC Wainwright cut their target price on Blink Charging from $15.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Benchmark reiterated a "buy" rating and set a $5.00 price target on shares of Blink Charging in a research report on Tuesday. Finally, Stifel Nicolaus cut their price objective on Blink Charging from $4.00 to $3.50 and set a "hold" rating for the company in a report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $5.64.

Blink Charging Stock Down 4.7 %

BLNK stock traded down $0.08 during trading on Thursday, reaching $1.61. 5,737,813 shares of the company's stock were exchanged, compared to its average volume of 5,685,956. Blink Charging has a 1-year low of $1.53 and a 1-year high of $4.66. The firm has a market cap of $162.85 million, a PE ratio of -1.07 and a beta of 2.65. The company's fifty day moving average price is $1.88 and its 200-day moving average price is $2.48.

Insider Activity

In related news, Director Kristina A. Peterson sold 24,077 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total transaction of $43,338.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jack Levine acquired 20,000 shares of Blink Charging stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following the purchase, the director now owns 175,718 shares of the company's stock, valued at approximately $298,720.60. This represents a 12.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BCGM Wealth Management LLC bought a new stake in shares of Blink Charging during the second quarter worth $27,000. Hsbc Holdings PLC bought a new stake in shares of Blink Charging during the 2nd quarter valued at $29,000. Principal Financial Group Inc. acquired a new position in shares of Blink Charging in the 2nd quarter valued at $30,000. Victory Capital Management Inc. bought a new position in shares of Blink Charging in the 2nd quarter worth $33,000. Finally, DRW Securities LLC acquired a new stake in shares of Blink Charging during the third quarter worth $33,000. Institutional investors and hedge funds 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.