Benchmark Issues Pessimistic Forecast for Blink Charging (NASDAQ:BLNK) Stock Price

Blink Charging (NASDAQ:BLNK) had its target price reduced by Benchmark from $5.00 to $2.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently weighed in on BLNK. Barclays reduced their price target on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Blink Charging in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Blink Charging in a research report on Friday. Finally, UBS Group reduced their target price on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Six investment 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, Blink Charging presently has an average rating of “Hold” and a consensus target price of $3.59.

Blink Charging Stock Up 6.0 %

Shares of BLNK stock opened at $0.95 on Friday. The stock has a market cap of $96.54 million, a price-to-earnings ratio of -0.63 and a beta of 2.86. Blink Charging has a fifty-two week low of $0.87 and a fifty-two week high of $3.75. The firm’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.56.

Institutional Trading of Blink Charging

Institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new stake in Blink Charging in the third quarter valued at $33,000. Millennium Management LLC acquired a new stake in Blink Charging in the fourth quarter valued at $43,000. Verition Fund Management LLC acquired a new stake in Blink Charging in the third quarter valued at $48,000. Intech Investment Management LLC bought a new stake in Blink Charging during the third quarter valued at $52,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Blink Charging during the fourth quarter valued at $57,000. 44.64% of the stock is owned by institutional investors and hedge funds.

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.