Blink Charging Co. (NASDAQ:BLNK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.79.

A number of analysts have recently issued reports on the company. UBS Group reduced their target price on Blink Charging from $4.50 to $3.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Stifel Nicolaus reduced their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Needham & Company LLC lowered their target price on Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. HC Wainwright dropped their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark initiated coverage on shares of Blink Charging in a report on Wednesday, July 31st. They set a “buy” rating and a $5.00 price target for the company.

Blink Charging Stock Up 2.3 %

NASDAQ:BLNK opened at $2.25 on Tuesday. The stock has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $2.52. The firm has a market capitalization of $227.39 million, a price-to-earnings ratio of -0.79 and a beta of 2.66. Blink Charging has a 1-year low of $1.53 and a 1-year high of $4.66.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). Blink Charging had a negative net margin of 108.11% and a negative return on equity of 22.70%. The firm had revenue of $33.26 million for the quarter, compared to analyst estimates of $38.90 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities analysts predict that Blink Charging will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jack Levine acquired 20,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $1.70 per share, with a total value of $34,000.00. Following the acquisition, the director now owns 175,718 shares in the company, valued at approximately $298,720.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Jack Levine acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average cost of $1.70 per share, with a total value of $34,000.00. Following the acquisition, the director now owns 175,718 shares in the company, valued at approximately $298,720.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristina A. Peterson sold 24,077 shares of the firm’s stock in a transaction on 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. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Blink Charging

Several large investors have recently made changes to their positions in the business. Swedbank AB increased its position in Blink Charging by 57.0% in the 3rd quarter. Swedbank AB now owns 225,516 shares of the company’s stock worth $388,000 after buying an additional 81,894 shares during the period. SG Americas Securities LLC bought a new position in Blink Charging during the third quarter worth $122,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Blink Charging by 49.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 106,864 shares of the company’s stock valued at $293,000 after purchasing an additional 35,387 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Blink Charging by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,469 shares of the company’s stock valued at $103,000 after purchasing an additional 16,549 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Blink Charging by 224.9% in the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after purchasing an additional 557,336 shares during the period. 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.