Benchmark Has Lowered Expectations for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK - Get Free Report) had its price target reduced by stock analysts at Benchmark from $5.00 to $2.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's target price suggests a potential upside of 94.17% from the stock's previous close.

Several other brokerages have also commented on BLNK. Barclays lowered their price objective on shares of Blink Charging from $3.00 to $1.50 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. HC Wainwright restated a "buy" rating and issued a $8.00 price objective on shares of Blink Charging in a report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Blink Charging in a report on Friday. Finally, UBS Group reduced their price target on shares of Blink Charging from $2.00 to $1.70 and set a "neutral" rating for the company in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Blink Charging currently has a consensus rating of "Hold" and an average price target of $3.39.

Blink Charging Price Performance

Shares of NASDAQ:BLNK traded down $0.02 during trading on Friday, hitting $1.03. 1,926,209 shares of the company were exchanged, compared to its average volume of 4,851,594. The company has a market cap of $104.21 million, a PE ratio of -0.68 and a beta of 2.86. Blink Charging has a 52-week low of $0.87 and a 52-week high of $3.75. The stock has a 50 day moving average of $1.18 and a 200 day moving average of $1.55.

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Blink Charging (NASDAQ:BLNK - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.03. The firm had revenue of $30.20 million for 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 company's revenue for the quarter was down 29.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.28) earnings per share. Sell-side analysts forecast that Blink Charging will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Two Sigma Investments LP bought a new position in Blink Charging in the 4th quarter worth about $107,000. Man Group plc purchased a new stake in Blink Charging during the fourth quarter valued at approximately $626,000. Millennium Management LLC acquired a new position in Blink Charging during the 4th quarter valued at approximately $43,000. Deutsche Bank AG increased its stake in Blink Charging by 23.4% during the 4th quarter. Deutsche Bank AG now owns 98,906 shares of the company's stock valued at $137,000 after purchasing an additional 18,771 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Blink Charging during the 4th quarter valued at approximately $57,000. 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.