Needham & Company LLC Downgrades Blink Charging (NASDAQ:BLNK) to Hold

Blink Charging (NASDAQ:BLNK - Get Free Report) was downgraded by analysts at Needham & Company LLC from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Marketbeat reports.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright dropped their target price on shares of Blink Charging from $15.00 to $8.00 and set a "buy" rating for the company in a report on Friday, August 9th. Stifel Nicolaus dropped their target price on shares of Blink Charging from $4.00 to $3.50 and set a "hold" rating for the company in a report on Monday, August 12th. Benchmark reaffirmed a "buy" rating and set a $5.00 target price on shares of Blink Charging in a report on Tuesday, November 12th. Finally, UBS Group lowered shares of Blink Charging from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $3.00 to $2.00 in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Blink Charging currently has an average rating of "Hold" and an average price target of $5.64.

Blink Charging Stock Down 1.9 %

Shares of Blink Charging stock traded down $0.03 during trading hours on Tuesday, reaching $1.55. 3,247,762 shares of the company's stock were exchanged, compared to its average volume of 5,681,269. Blink Charging has a 1 year low of $1.50 and a 1 year high of $4.48. The company has a market capitalization of $156.83 million, a P/E ratio of -1.03 and a beta of 2.65. The business has a fifty day moving average of $1.88 and a two-hundred day moving average of $2.45.

Insider Activity

In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack Levine bought 20,000 shares of the firm's stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following the transaction, the director now directly owns 175,718 shares of the company's stock, valued at $298,720.60. The trade was a 12.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 6.50% of the company's stock.

Institutional Trading of Blink Charging

Several hedge funds have recently made changes to their positions in BLNK. AQR Capital Management LLC lifted its position in shares of Blink Charging by 224.9% during the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company's stock worth $2,206,000 after purchasing an additional 557,336 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Blink Charging by 12.6% during the first quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company's stock worth $9,809,000 after purchasing an additional 365,098 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Blink Charging during the second quarter worth approximately $843,000. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 222,949 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Blink Charging by 108.4% during the second quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company's stock worth $1,107,000 after buying an additional 210,116 shares during the period. 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.