Blink Charging (NASDAQ:BLNK) Price Target Lowered to $2.00 at Stifel Nicolaus

Blink Charging (NASDAQ:BLNK) had its price objective lowered by equities research analysts at Stifel Nicolaus from $3.50 to $2.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 112.54% from the stock’s current price.

BLNK has been the subject of several other reports. Roth Mkm reiterated a “buy” rating and set a $3.00 target price (down from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Benchmark dropped their price objective on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday, March 14th. Barclays cut their target price on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Blink Charging in a research note on Friday, March 14th. Finally, UBS Group reduced their price objective on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.17.

Blink Charging Trading Down 6.8 %

Shares of BLNK traded down $0.07 during mid-day trading on Wednesday, reaching $0.94. 4,715,680 shares of the stock traded hands, compared to its average volume of 4,716,130. The company has a market cap of $95.21 million, a price-to-earnings ratio of -0.62 and a beta of 2.86. Blink Charging has a 1 year low of $0.87 and a 1 year high of $3.75. The firm has a fifty day moving average price of $1.11 and a 200 day moving average price of $1.52.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Thursday, March 13th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. The business had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The firm’s revenue was down 29.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, sell-side analysts anticipate that Blink Charging will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Blink Charging by 10.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after purchasing an additional 222,949 shares during the period. Barclays PLC increased its stake in shares of Blink Charging by 238.4% in the third quarter. Barclays PLC now owns 173,704 shares of the company’s stock worth $299,000 after buying an additional 122,367 shares during the period. Verition Fund Management LLC bought a new stake in Blink Charging during the 3rd quarter valued at $48,000. Charles Schwab Investment Management Inc. boosted its position in Blink Charging by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock valued at $1,409,000 after buying an additional 79,969 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new stake in Blink Charging in the 3rd quarter worth $90,000. 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.