Blink Charging (NASDAQ:BLNK) PT Lowered to $3.00

Blink Charging (NASDAQ:BLNK) had its target price decreased by UBS Group from $4.50 to $3.00 in a report issued on Tuesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

BLNK has been the subject of several other reports. Benchmark began coverage on shares of Blink Charging in a report on Wednesday, July 31st. They issued a “buy” rating and a $5.00 price target for the company. HC Wainwright reduced their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus decreased their target price on Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Needham & Company LLC dropped their price target on Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, B. Riley raised shares of Blink Charging to a “hold” rating in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.79.

Blink Charging Stock Performance

NASDAQ:BLNK opened at $2.11 on Tuesday. The business’s fifty day moving average is $1.87 and its 200 day moving average is $2.55. The firm has a market cap of $213.24 million, a price-to-earnings ratio of -0.74 and a beta of 2.66. Blink Charging has a 52-week low of $1.53 and a 52-week high of $4.66.

Blink Charging (NASDAQ:BLNK) last posted its 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). Blink Charging had a negative net margin of 108.11% and a negative return on equity of 22.70%. The company had revenue of $33.26 million for the quarter, compared to analysts’ expectations of $38.90 million. During the same period in the previous year, the firm earned ($0.44) EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts predict that Blink Charging will post -0.62 EPS for the current fiscal year.

Insider Activity

In other news, Director Jack Levine bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the transaction, the director now directly owns 175,718 shares of the company’s stock, valued at $298,720.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack Levine acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the acquisition, the director now owns 175,718 shares of the company’s stock, valued at approximately $298,720.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Blink Charging

Institutional investors have recently bought and sold shares of the stock. BCGM Wealth Management LLC bought a new stake in Blink Charging in the second quarter valued at approximately $27,000. Hsbc Holdings PLC purchased a new position in shares of Blink Charging in the second quarter worth $29,000. Principal Financial Group Inc. bought a new stake in Blink Charging during the 2nd quarter valued at $30,000. Victory Capital Management Inc. purchased a new stake in Blink Charging during the 2nd quarter valued at $33,000. Finally, Cetera Advisors LLC grew its holdings in Blink Charging by 36.1% in the 1st quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock worth $42,000 after acquiring an additional 3,673 shares during the last quarter. 44.64% of the stock is currently owned by hedge funds and other 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.