Blink Charging (NASDAQ:BLNK) Downgraded to “Neutral” Rating by UBS Group

UBS Group cut shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a neutral rating in a report published on Thursday, Marketbeat.com reports. UBS Group currently has $2.00 price target on the stock, down from their prior price target of $3.00.

Several other brokerages have also issued reports on BLNK. Benchmark restated a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a report on Tuesday. HC Wainwright decreased their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC lowered their price objective on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Stifel Nicolaus cut their target price on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Blink Charging currently has an average rating of “Moderate Buy” and an average target price of $5.64.

Blink Charging Stock Down 5.3 %

Shares of BLNK stock traded down $0.09 on Thursday, reaching $1.53. 5,068,103 shares of the company were exchanged, compared to its average volume of 5,683,286. Blink Charging has a 1 year low of $1.51 and a 1 year high of $4.66. The business has a 50-day moving average price of $1.88 and a 200 day moving average price of $2.48.

Insider Buying and Selling at Blink Charging

In other news, Director Jack Levine acquired 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were bought at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the completion of the purchase, the director now directly owns 175,718 shares of the company’s stock, valued at approximately $298,720.60. This trade represents a 12.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kristina A. Peterson sold 24,077 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors and hedge funds have recently bought and sold shares of BLNK. Vanguard Group Inc. boosted its holdings in shares of Blink Charging by 12.6% in the 1st quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock worth $9,809,000 after acquiring an additional 365,098 shares in the last quarter. AQR Capital Management LLC boosted its stake in Blink Charging by 224.9% in the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock worth $2,206,000 after purchasing an additional 557,336 shares during the period. BNP Paribas Financial Markets raised its position in Blink Charging by 36.3% in the 1st quarter. BNP Paribas Financial Markets now owns 39,601 shares of the company’s stock valued at $119,000 after buying an additional 10,554 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Blink Charging by 48.9% in the 1st quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock valued at $79,000 after purchasing an additional 8,668 shares during the period. Finally, CWM LLC increased its holdings in shares of Blink Charging by 60.2% in the second quarter. CWM LLC now owns 15,520 shares of the company’s stock valued at $43,000 after purchasing an additional 5,834 shares during the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

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.