Blink Charging’s (BLNK) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Blink Charging (NASDAQ:BLNK) in a research note issued to investors on Tuesday morning,Benzinga reports.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Blink Charging from $3.50 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, March 26th. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Blink Charging in a research note on Friday, March 14th. Benchmark reduced their price objective on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Roth Mkm restated a “buy” rating and issued a $3.00 price objective (down from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Finally, Barclays reduced their price objective on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.04.

Blink Charging Stock Down 10.1%

NASDAQ BLNK opened at $0.78 on Tuesday. The stock has a market capitalization of $79.82 million, a PE ratio of -0.51 and a beta of 3.34. The company has a 50 day moving average price of $0.84 and a two-hundred day moving average price of $1.24. Blink Charging has a 12-month low of $0.63 and a 12-month high of $3.75.

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

Hedge Funds Weigh In On Blink Charging

Large investors have recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in Blink Charging during the 4th quarter valued at $43,000. Cerity Partners LLC bought a new stake in Blink Charging in the 1st quarter valued at $30,000. Wealth Enhancement Advisory Services LLC bought a new stake in Blink Charging in the 1st quarter valued at $30,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Blink Charging in the 1st quarter valued at $35,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Blink Charging in the 4th quarter valued at $57,000. 44.64% of the stock is currently 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.