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

HC Wainwright reaffirmed their buy rating on shares of Blink Charging (NASDAQ:BLNK - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $8.00 price objective on the stock.

Several other research firms also recently commented on BLNK. Needham & Company LLC reaffirmed a "hold" rating on shares of Blink Charging in a research note on Friday. UBS Group decreased their target price on Blink Charging from $2.00 to $1.70 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, Barclays decreased their target price on Blink Charging from $3.00 to $1.50 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $3.39.

Blink Charging Stock Performance

Shares of NASDAQ BLNK traded down $0.02 during trading on Friday, hitting $1.03. The company had a trading volume of 1,926,209 shares, compared to its average volume of 4,851,592. The stock has a 50 day simple moving average of $1.18 and a 200 day simple moving average of $1.55. Blink Charging has a 12 month low of $0.87 and a 12 month high of $3.75. The firm has a market capitalization of $104.21 million, a P/E ratio of -0.68 and a beta of 2.86.

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Blink Charging (NASDAQ:BLNK - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $30.77 million. During the same quarter last year, the company earned ($0.28) earnings per share. The business's revenue for the quarter was down 29.3% compared to the same quarter last year. As a group, analysts predict that Blink Charging will post -0.64 EPS for the current year.

Institutional Trading of Blink Charging

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DRW Securities LLC bought a new stake in Blink Charging in the 3rd quarter worth approximately $33,000. Millennium Management LLC bought a new stake in Blink Charging in the 4th quarter worth approximately $43,000. Verition Fund Management LLC bought a new stake in Blink Charging in the 3rd quarter worth approximately $48,000. Intech Investment Management LLC bought a new stake in Blink Charging in the 3rd quarter worth approximately $52,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Blink Charging in the 4th quarter worth approximately $57,000. 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.