Stifel Nicolaus Cuts Blink Charging (NASDAQ:BLNK) Price Target to $2.00

Blink Charging (NASDAQ:BLNK) had its price target cut by Stifel Nicolaus from $3.50 to $2.00 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms also recently issued reports on BLNK. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Blink Charging in a research report on Friday, March 14th. Barclays decreased their target price on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. UBS Group lowered their target price on Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research note on Monday, January 27th. Benchmark lowered their price objective on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Roth Mkm reissued a “buy” rating and set a $3.00 target price (down from $4.00) on shares of Blink Charging in a research report on Friday, March 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.17.

Blink Charging Price Performance

Shares of BLNK stock opened at $0.94 on Wednesday. The firm’s 50-day simple moving average is $1.08 and its 200-day simple moving average is $1.50. Blink Charging has a 1-year low of $0.87 and a 1-year high of $3.75. The firm has a market cap of $94.69 million, a P/E ratio of -0.62 and a beta of 2.86.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.77 million. Blink Charging had a negative net margin of 104.02% and a negative return on equity of 25.50%. Blink Charging’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.28) EPS. Analysts expect that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors have recently made changes to their positions in BLNK. Geode Capital Management LLC lifted its position in shares of Blink Charging by 10.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after buying an additional 222,949 shares during the last quarter. Stifel Financial Corp lifted its stake in Blink Charging by 14.7% in the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock valued at $2,419,000 after buying an additional 180,027 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Blink Charging by 19.4% during the fourth quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock valued at $1,373,000 after acquiring an additional 160,251 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Blink Charging by 14.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,866 shares of the company’s stock worth $1,301,000 after acquiring an additional 116,758 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Blink Charging by 1.7% in the 4th quarter. Northern Trust Corp now owns 794,156 shares of the company’s stock valued at $1,104,000 after purchasing an additional 13,336 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors.

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.