Blink Charging's (BLNK) "Hold" Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Blink Charging (NASDAQ:BLNK - Free Report) in a report released on Friday,Benzinga reports.

Several other brokerages also recently weighed in on BLNK. Barclays reduced their price target on Blink Charging from $3.00 to $1.50 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. UBS Group reduced their price target on Blink Charging from $2.00 to $1.70 and set a "neutral" rating for the company in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Blink Charging currently has a consensus rating of "Hold" and a consensus target price of $3.39.

Blink Charging Trading Down 1.9 %

BLNK traded down $0.02 during trading on Friday, reaching $1.03. The stock had a trading volume of 1,926,209 shares, compared to its average volume of 4,851,592. The stock's 50 day moving average is $1.18 and its two-hundred day moving average is $1.55. The company has a market capitalization of $104.21 million, a price-to-earnings ratio of -0.68 and a beta of 2.86. Blink Charging has a one year low of $0.87 and a one year high of $3.75.

Blink Charging (NASDAQ:BLNK - Get Free Report) last issued 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. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The firm had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.77 million. During the same period last year, the company earned ($0.28) earnings per share. The company's revenue was down 29.3% on a year-over-year basis. On average, equities research analysts predict that Blink Charging will post -0.64 earnings per share for the current year.

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Institutional Investors Weigh In On Blink Charging

Several institutional investors have recently modified their holdings of BLNK. DRW Securities LLC purchased a new stake in shares of Blink Charging during the third quarter valued at $33,000. Millennium Management LLC purchased a new stake in shares of Blink Charging during the fourth quarter valued at $43,000. Verition Fund Management LLC purchased a new stake in shares of Blink Charging during the third quarter valued at $48,000. Intech Investment Management LLC purchased a new position in Blink Charging in the third quarter worth about $52,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Blink Charging in the fourth quarter worth about $57,000. 44.64% of the stock is owned by hedge funds and other institutional investors.

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.