Analysts Set Blink Charging Co. (NASDAQ:BLNK) PT at $5.64

Shares of Blink Charging Co. (NASDAQ:BLNK) have received an average recommendation of “Hold” from the eight research firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $5.64.

A number of equities analysts have issued reports on BLNK shares. UBS Group downgraded Blink Charging from a “buy” rating to a “neutral” rating and cut their price target for the company from $3.00 to $2.00 in a research note on Thursday, November 14th. Needham & Company LLC downgraded Blink Charging from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Blink Charging in a research note on Tuesday, November 12th.

Blink Charging Trading Up 2.1 %

Blink Charging stock opened at $1.49 on Wednesday. The firm’s fifty day moving average price is $1.78 and its two-hundred day moving average price is $2.21. The firm has a market capitalization of $150.75 million, a price-to-earnings ratio of -0.99 and a beta of 2.58. Blink Charging has a 1-year low of $1.42 and a 1-year high of $4.48.

Insiders Place Their Bets

In related 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 price of $1.70 per share, for a total transaction of $34,000.00. Following the completion of the acquisition, the director now owns 175,718 shares of the company’s stock, valued at approximately $298,720.60. This represents a 12.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BLNK. AQR Capital Management LLC lifted its stake in Blink Charging by 224.9% in 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 during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Blink Charging during the 2nd quarter valued at $843,000. Geode Capital Management LLC lifted its position in shares of Blink Charging by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after buying an additional 222,949 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Blink Charging by 108.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock worth $1,107,000 after acquiring an additional 210,116 shares during the period. Finally, Stifel Financial Corp raised its stake in Blink Charging by 14.7% in the 3rd quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock valued at $2,419,000 after acquiring an additional 180,027 shares during the period. 44.64% of the stock is owned by institutional investors.

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.