Blink Charging (NASDAQ:BLNK) Downgraded by Needham & Company LLC to Hold

Needham & Company LLC cut shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat.com reports.

A number of other research firms have also weighed in on BLNK. Stifel Nicolaus reduced their target price on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a research note on Tuesday, November 12th. UBS Group lowered shares of Blink Charging from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.00 to $2.00 in a research note on Thursday, November 14th. Finally, HC Wainwright reduced their price objective on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Blink Charging presently has a consensus rating of “Hold” and an average target price of $5.64.

Blink Charging Price Performance

BLNK stock opened at $1.53 on Tuesday. Blink Charging has a 1 year low of $1.48 and a 1 year high of $4.48. The stock has a market cap of $154.93 million, a price-to-earnings ratio of -1.01 and a beta of 2.65. The company has a 50 day simple moving average of $1.87 and a 200 day simple moving average of $2.44.

Insiders Place Their Bets

In other news, Director Jack Levine bought 20,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the completion of the acquisition, the director now directly owns 175,718 shares in the company, valued at approximately $298,720.60. This trade represents a 12.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kristina A. Peterson sold 24,077 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Blink Charging

Several institutional investors and hedge funds have recently made changes to their positions in BLNK. BNP Paribas Financial Markets raised its holdings in shares of Blink Charging by 36.3% in the first quarter. BNP Paribas Financial Markets now owns 39,601 shares of the company’s stock valued at $119,000 after purchasing an additional 10,554 shares during the last quarter. SG Americas Securities LLC grew its position in Blink Charging by 48.9% during the first quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock valued at $79,000 after buying an additional 8,668 shares during the period. Vanguard Group Inc. grew its position in Blink Charging by 12.6% during the first quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock valued at $9,809,000 after buying an additional 365,098 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Blink Charging by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,477 shares of the company’s stock valued at $215,000 after buying an additional 8,955 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Blink Charging by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,171 shares of the company’s stock valued at $236,000 after buying an additional 13,402 shares during the period. Hedge funds and other 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.