Needham & Company LLC Reaffirms “Buy” Rating for Blink Charging (NASDAQ:BLNK)

Blink Charging (NASDAQ:BLNK)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

A number of other analysts have also recently weighed in on BLNK. UBS Group cut Blink Charging from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $3.00 to $2.00 in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Blink Charging presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.64.

Blink Charging Stock Performance

BLNK opened at $1.47 on Wednesday. The stock has a market cap of $148.73 million, a price-to-earnings ratio of -0.97 and a beta of 2.61. Blink Charging has a 1 year low of $1.38 and a 1 year high of $3.75. The stock has a fifty day moving average price of $1.58 and a 200 day moving average price of $2.03.

Institutional Investors Weigh In On Blink Charging

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Blink Charging by 108.4% in 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 in the last quarter. Rhumbline Advisers boosted its position in Blink Charging by 70.5% in the 2nd quarter. Rhumbline Advisers now owns 133,055 shares of the company’s stock valued at $365,000 after buying an additional 55,014 shares during the last quarter. Victory Capital Management Inc. bought a new position in Blink Charging in the 2nd quarter valued at $33,000. American Century Companies Inc. boosted its position in Blink Charging by 63.4% in the 2nd quarter. American Century Companies Inc. now owns 72,840 shares of the company’s stock valued at $200,000 after buying an additional 28,265 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Blink Charging in the 2nd quarter valued at $29,000. 44.64% of the stock is currently 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.