Benchmark Reaffirms "Buy" Rating for Blink Charging (NASDAQ:BLNK)

Benchmark reiterated their buy rating on shares of Blink Charging (NASDAQ:BLNK - Free Report) in a report published on Tuesday morning,Benzinga reports. They currently have a $5.00 price objective on the stock.

A number of other analysts also recently issued reports on BLNK. HC Wainwright decreased their price target on 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 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. UBS Group decreased their price objective on shares of Blink Charging from $4.50 to $3.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. Finally, 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 note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.79.

Blink Charging Stock Down 5.2 %

Shares of NASDAQ BLNK traded down $0.10 during midday trading on Tuesday, hitting $1.74. The stock had a trading volume of 4,556,944 shares, compared to its average volume of 5,684,196. Blink Charging has a 1 year low of $1.53 and a 1 year high of $4.66. The company has a market capitalization of $175.50 million, a PE ratio of -1.21 and a beta of 2.65. The stock has a 50 day simple moving average of $1.88 and a 200-day simple moving average of $2.50.

Insider Activity

In related news, Director Kristina A. Peterson sold 24,077 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kristina A. Peterson sold 24,077 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were 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 accessible through this link. Also, Director Jack Levine bought 20,000 shares of the company's stock in a transaction dated Thursday, September 26th. The stock was purchased at an average price of $1.70 per share, with a total value of $34,000.00. Following the completion of the transaction, the director now directly owns 175,718 shares in the company, valued at approximately $298,720.60. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 6.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blink Charging

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Blink Charging by 12.6% in 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position in Blink Charging by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company's stock valued at $1,409,000 after acquiring an additional 79,969 shares during the last quarter. AQR Capital Management LLC boosted its position in Blink Charging by 224.9% during the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company's stock valued at $2,206,000 after purchasing an additional 557,336 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Blink Charging by 108.4% in the second quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company's stock worth $1,107,000 after purchasing an additional 210,116 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Blink Charging in the second quarter valued at approximately $843,000. 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.