Stifel Nicolaus Trims Blink Charging (NASDAQ:BLNK) Target Price to $3.50

Blink Charging (NASDAQ:BLNK) had its price target lowered by Stifel Nicolaus from $4.00 to $3.50 in a research note issued to investors on Monday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research firms have also weighed in on BLNK. B. Riley upgraded shares of Blink Charging to a hold rating in a research report on Tuesday, June 25th. UBS Group dropped their price target on Blink Charging from $7.00 to $4.50 and set a buy rating on the stock in a report on Tuesday, May 21st. Benchmark started coverage on Blink Charging in a research report on Wednesday, July 31st. They set a buy rating and a $5.00 price objective for the company. Needham & Company LLC cut their target price on Blink Charging from $6.00 to $4.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright reduced their target price on Blink Charging from $15.00 to $8.00 and set a buy rating for the company in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $6.00.

Blink Charging Price Performance

NASDAQ:BLNK opened at $2.07 on Monday. Blink Charging has a 12-month low of $1.89 and a 12-month high of $5.63. The business has a 50 day simple moving average of $2.94 and a 200 day simple moving average of $2.89. The firm has a market capitalization of $209.19 million, a P/E ratio of -0.72 and a beta of 2.73.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. The firm had revenue of $33.26 million during the quarter, compared to the consensus estimate of $38.90 million. During the same quarter last year, the company posted ($0.44) EPS. Blink Charging’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts anticipate that Blink Charging will post -0.4 EPS for the current fiscal year.

Institutional Trading of Blink Charging

Several institutional investors have recently modified their holdings of the company. BCGM Wealth Management LLC bought a new stake in Blink Charging in the second quarter valued at about $27,000. Hsbc Holdings PLC bought a new stake in shares of Blink Charging in the 2nd quarter valued at approximately $29,000. Principal Financial Group Inc. acquired a new position in shares of Blink Charging in the 2nd quarter worth approximately $30,000. Victory Capital Management Inc. bought a new position in shares of Blink Charging during the 2nd quarter worth approximately $33,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Blink Charging in the 4th quarter valued at $37,000. Institutional investors and hedge funds 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.