UBS Group Downgrades Blink Charging (NASDAQ:BLNK) to Neutral

UBS Group cut shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have $2.00 target price on the stock, down from their prior target price of $3.00.

A number of other equities research analysts have also commented on the stock. 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. Stifel Nicolaus cut their price target on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Needham & Company LLC lowered their price objective on Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, HC Wainwright cut their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.64.

Blink Charging Price Performance

Shares of BLNK stock opened at $1.52 on Thursday. The stock has a market capitalization of $153.79 million, a PE ratio of -1.01 and a beta of 2.65. The business’s 50 day simple moving average is $1.88 and its 200 day simple moving average is $2.47. Blink Charging has a one year low of $1.50 and a one year high of $4.66.

Insider Transactions at Blink Charging

In other news, Director Jack Levine bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kristina A. Peterson sold 24,077 shares of the business’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 added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Blink Charging by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock valued at $9,809,000 after acquiring an additional 365,098 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Blink Charging by 224.9% during the second 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 in the last quarter. BNP Paribas Financial Markets boosted its holdings in Blink Charging by 36.3% during the first quarter. BNP Paribas Financial Markets now owns 39,601 shares of the company’s stock worth $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% in the 1st quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock worth $79,000 after purchasing an additional 8,668 shares in the last quarter. Finally, CWM LLC increased its stake in Blink Charging by 60.2% in the 2nd quarter. CWM LLC now owns 15,520 shares of the company’s stock valued at $43,000 after buying an additional 5,834 shares during the last quarter. 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.