Blink Charging Co. (NASDAQ:BLNK) Receives $9.00 Consensus PT from Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.00.

Several research firms have issued reports on BLNK. Roth Mkm lowered their price objective on shares of Blink Charging from $25.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, March 15th. DA Davidson restated a “neutral” rating and set a $5.00 price objective on shares of Blink Charging in a report on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Blink Charging in a report on Wednesday. Finally, HC Wainwright cut their price target on Blink Charging from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 18th.

Blink Charging Stock Performance

Shares of NASDAQ BLNK opened at $2.36 on Friday. Blink Charging has a fifty-two week low of $2.18 and a fifty-two week high of $7.70. The company has a market cap of $238.34 million, a price-to-earnings ratio of -0.73 and a beta of 2.77. The business’s 50 day moving average price is $2.89 and its 200-day moving average price is $2.95.

Blink Charging (NASDAQ:BLNK) last released its earnings results on Thursday, March 14th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.12. The business had revenue of $42.71 million for the quarter, compared to analyst estimates of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. Sell-side analysts predict that Blink Charging will post -0.84 earnings per share for the current year.

Institutional Investors Weigh In On Blink Charging

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of Blink Charging by 1,195.1% in the 4th quarter. Barclays PLC now owns 1,012,273 shares of the company’s stock valued at $3,431,000 after buying an additional 934,112 shares in the last quarter. State Street Corp boosted its stake in Blink Charging by 42.8% in the second quarter. State Street Corp now owns 1,991,123 shares of the company’s stock valued at $11,927,000 after acquiring an additional 596,719 shares in the last quarter. Invesco Ltd. grew its holdings in Blink Charging by 35.8% in the third quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock worth $6,601,000 after purchasing an additional 568,417 shares during the last quarter. BlackRock Inc. increased its position in shares of Blink Charging by 18.8% during the first quarter. BlackRock Inc. now owns 3,539,224 shares of the company’s stock worth $30,614,000 after purchasing an additional 559,276 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Blink Charging by 861.1% during the 4th quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock valued at $1,558,000 after purchasing an additional 411,763 shares during the last quarter. 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.