Stifel Nicolaus Cuts Blink Charging (NASDAQ:BLNK) Price Target to $3.50

Blink Charging (NASDAQ:BLNK) had its price objective decreased by Stifel Nicolaus from $4.00 to $3.50 in a research note issued to investors on Monday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other equities analysts also recently commented on BLNK. HC Wainwright reduced their price objective on shares of Blink Charging from $15.00 to $8.00 and set a buy rating for the company in a report on Friday, August 9th. B. Riley raised Blink Charging to a hold rating in a report on Tuesday, June 25th. Benchmark assumed coverage on Blink Charging in a research note on Wednesday, July 31st. They issued a buy rating and a $5.00 price objective on the stock. UBS Group lowered their price target on Blink Charging from $7.00 to $4.50 and set a buy rating on the stock in a research report on Tuesday, May 21st. Finally, Needham & Company LLC cut their price objective on Blink Charging from $6.00 to $4.00 and set a buy rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $6.00.

Blink Charging Stock Performance

NASDAQ BLNK opened at $2.13 on Monday. The stock has a market capitalization of $215.26 million, a PE ratio of -0.74 and a beta of 2.73. The stock has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $2.89. Blink Charging has a twelve month low of $1.89 and a twelve month high of $5.47.

Blink Charging (NASDAQ:BLNK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The company had revenue of $33.26 million during the quarter, compared to the consensus estimate of $38.90 million. Blink Charging had a negative net margin of 122.09% and a negative return on equity of 25.12%. Blink Charging’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned ($0.44) earnings per share. As a group, equities research analysts forecast that Blink Charging will post -0.4 EPS for the current fiscal year.

Institutional Trading of Blink Charging

Large investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. acquired a new position in Blink Charging during the 4th quarter worth about $37,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Blink Charging by 105.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 18,378 shares of the company’s stock worth $62,000 after purchasing an additional 9,438 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Blink Charging during the fourth quarter valued at approximately $42,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Blink Charging by 179.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 252,246 shares of the company’s stock valued at $855,000 after purchasing an additional 162,109 shares in the last quarter. Finally, IPG Investment Advisors LLC bought a new position in Blink Charging in the 4th quarter worth approximately $104,000. 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.