UBS Group Cuts Blink Charging (NASDAQ:BLNK) Price Target to $1.70

Blink Charging (NASDAQ:BLNK) had its target price cut by UBS Group from $2.00 to $1.70 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently commented on BLNK. Needham & Company LLC reissued a “buy” rating on shares of Blink Charging in a research note on Wednesday, January 15th. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Blink Charging has an average rating of “Moderate Buy” and an average price target of $5.60.

Blink Charging Stock Up 4.3 %

BLNK stock opened at $1.22 on Monday. The company has a 50 day moving average of $1.51 and a two-hundred day moving average of $1.92. Blink Charging has a 12-month low of $1.15 and a 12-month high of $3.75. The company has a market cap of $123.44 million, a price-to-earnings ratio of -0.81 and a beta of 2.61.

Hedge Funds Weigh In On Blink Charging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in shares of Blink Charging by 45.2% during the 4th quarter. Swedbank AB now owns 327,552 shares of the company’s stock worth $455,000 after buying an additional 102,036 shares during the period. Virtu Financial LLC acquired a new position in Blink Charging during the 3rd quarter worth $96,000. Barclays PLC boosted its holdings in Blink Charging by 238.4% during the third quarter. Barclays PLC now owns 173,704 shares of the company’s stock valued at $299,000 after acquiring an additional 122,367 shares during the period. Geode Capital Management LLC grew its position in shares of Blink Charging by 10.7% in the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after purchasing an additional 222,949 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Blink Charging in the third quarter worth about $90,000. Institutional investors and hedge funds 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.