Blink Charging (NASDAQ:BLNK) Announces Earnings Results, Beats Estimates By $0.02 EPS

Blink Charging (NASDAQ:BLNK) announced its earnings results on Thursday. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02, Briefing.com reports. 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 analyst estimates of $30.77 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. Blink Charging’s revenue was down 29.3% compared to the same quarter last year.

Blink Charging Stock Performance

NASDAQ:BLNK opened at $0.90 on Friday. Blink Charging has a 52 week low of $0.87 and a 52 week high of $3.75. The stock’s 50 day moving average price is $1.22 and its 200 day moving average price is $1.57. The company has a market capitalization of $91.09 million, a P/E ratio of -0.60 and a beta of 2.86.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group cut their price target on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a report on Monday, January 27th. Barclays cut their price target on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Blink Charging in a research note on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blink Charging has an average rating of “Hold” and an average price target of $5.09.

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.