Needham & Company LLC reaffirmed their buy rating on shares of Blink Charging (NASDAQ:BLNK – Free Report) in a research report released on Wednesday morning, Benzinga reports. They currently have a $7.00 target price on the stock.
Other research analysts also recently issued reports about the company. DA Davidson reiterated a neutral rating and issued a $5.00 price target on shares of Blink Charging in a report on Friday, March 15th. Roth Mkm cut their price target on Blink Charging from $25.00 to $12.00 and set a buy rating for the company in a report on Friday, March 15th. Finally, HC Wainwright lowered their price objective on shares of Blink Charging from $25.00 to $15.00 and set a buy rating for the company in a research note on Monday, March 18th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Blink Charging has a consensus rating of Moderate Buy and a consensus target price of $9.00.
Read Our Latest Stock Report on BLNK
Blink Charging Stock Performance
Blink Charging (NASDAQ:BLNK – Get Free Report) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.12. The company had revenue of $42.71 million during the quarter, compared to the consensus estimate of $43.63 million. Blink Charging had a negative return on equity of 29.26% and a negative net margin of 144.88%. As a group, equities research analysts forecast that Blink Charging will post -0.84 earnings per share for the current fiscal year.
Institutional Trading of Blink Charging
Several institutional investors have recently made changes to their positions in BLNK. Barclays PLC grew its stake in shares of Blink Charging by 1,195.1% during 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 during the period. State Street Corp boosted its position in Blink Charging by 42.8% during the 2nd quarter. State Street Corp now owns 1,991,123 shares of the company’s stock worth $11,927,000 after purchasing an additional 596,719 shares during the period. Invesco Ltd. boosted its position in Blink Charging by 35.8% during the 3rd 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 period. BlackRock Inc. boosted its position in Blink Charging by 18.8% during the 1st 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 during the period. Finally, Quadrature Capital Ltd boosted its position in Blink Charging by 861.1% during the 4th quarter. Quadrature Capital Ltd now owns 459,583 shares of the company’s stock worth $1,558,000 after purchasing an additional 411,763 shares during the period. 44.64% of the stock is owned by hedge funds and other institutional investors.
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.
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