Blink Charging (NASDAQ:BLNK) Price Target Cut to $4.00 by Analysts at Needham & Company LLC

Blink Charging (NASDAQ:BLNK) had its price objective reduced by Needham & Company LLC from $6.00 to $4.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

BLNK has been the subject of several other research reports. Stifel Nicolaus restated a hold rating and issued a $4.00 price objective on shares of Blink Charging in a report on Thursday, May 16th. B. Riley raised Blink Charging to a hold rating in a report on Tuesday, June 25th. Benchmark began coverage on Blink Charging in a report on Wednesday, July 31st. They set a buy rating and a $5.00 target price on the stock. Finally, UBS Group lowered their target price on Blink Charging from $7.00 to $4.50 and set a buy rating on the stock in a report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $6.07.

Blink Charging Stock Down 6.1 %

Shares of BLNK opened at $2.00 on Thursday. Blink Charging has a 52-week low of $1.95 and a 52-week high of $6.78. The firm has a market capitalization of $202.12 million, a PE ratio of -0.70 and a beta of 2.73. The firm has a 50-day moving average price of $3.00 and a 200 day moving average price of $2.90.

Blink Charging (NASDAQ:BLNK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The company had revenue of $33.26 million for the quarter, compared to analyst estimates of $38.90 million. Blink Charging had a negative net margin of 122.09% and a negative return on equity of 25.12%. Blink Charging’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.44) EPS. On average, equities analysts expect that Blink Charging will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Blink Charging

A number of institutional investors have recently bought and sold shares of BLNK. Arkadios Wealth Advisors purchased a new position in Blink Charging in the 4th quarter worth about $116,000. Stratos Wealth Partners LTD. acquired a new stake in Blink Charging during the 4th quarter worth about $37,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Blink Charging by 105.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 18,378 shares of the company’s stock worth $62,000 after acquiring an additional 9,438 shares during the period. Private Advisor Group LLC acquired a new stake in Blink Charging during the 4th quarter worth about $42,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Blink Charging by 179.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 252,246 shares of the company’s stock worth $855,000 after acquiring an additional 162,109 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.