Blink Charging (NASDAQ:BLNK) Stock Rating Upgraded by B. Riley

B. Riley upgraded shares of Blink Charging (NASDAQ:BLNK) to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

BLNK has been the subject of several other reports. DA Davidson restated a neutral rating and issued a $5.00 price target on shares of Blink Charging in a research report on Friday, March 15th. Stifel Nicolaus restated a hold rating and issued a $4.00 price objective on shares of Blink Charging in a report on Thursday, May 16th. UBS Group cut their target price on Blink Charging from $7.00 to $4.50 and set a buy rating on the stock in a report on Tuesday, May 21st. Roth Mkm decreased their price target on Blink Charging from $25.00 to $12.00 and set a buy rating for the company in a research note on Friday, March 15th. Finally, HC Wainwright lowered their price objective on Blink Charging from $25.00 to $15.00 and set a buy rating for the company in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $7.50.

Blink Charging Stock Down 2.1 %

Shares of BLNK stock opened at $2.74 on Tuesday. The firm has a market capitalization of $276.90 million, a P/E ratio of -0.96 and a beta of 2.76. Blink Charging has a twelve month low of $2.18 and a twelve month high of $7.25. The stock’s fifty day simple moving average is $2.94 and its 200 day simple moving average is $2.90.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.10. Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. The company had revenue of $37.57 million for the quarter, compared to analysts’ expectations of $33.74 million. As a group, equities research analysts expect that Blink Charging will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLNK. PNC Financial Services Group Inc. grew its stake in Blink Charging by 112.9% during the third quarter. PNC Financial Services Group Inc. now owns 10,864 shares of the company’s stock worth $33,000 after purchasing an additional 5,761 shares during the period. Teza Capital Management LLC bought a new position in shares of Blink Charging during the 3rd quarter worth approximately $34,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Blink Charging during the 4th quarter worth approximately $37,000. Private Advisor Group LLC bought a new stake in shares of Blink Charging in the 4th quarter valued at $42,000. Finally, Cetera Advisors LLC lifted its position in shares of Blink Charging by 36.1% during the 1st quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock valued at $42,000 after acquiring an additional 3,673 shares during the period. 44.64% of the stock is 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.