Blink Charging (NASDAQ:BLNK) Earns “Buy” Rating from Needham & Company LLC

Blink Charging (NASDAQ:BLNK)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. UBS Group downgraded Blink Charging from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $3.00 to $2.00 in a research report on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Blink Charging in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.64.

Blink Charging Trading Down 6.5 %

Blink Charging stock opened at $1.44 on Wednesday. Blink Charging has a 12 month low of $1.38 and a 12 month high of $3.75. The stock’s 50 day moving average is $1.61 and its 200-day moving average is $2.04. The company has a market capitalization of $145.69 million, a price-to-earnings ratio of -0.95 and a beta of 2.61.

Institutional Investors Weigh In On Blink Charging

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Blink Charging by 8.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,415 shares of the company’s stock worth $200,000 after purchasing an additional 9,551 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Blink Charging during the second quarter worth $29,000. Victory Capital Management Inc. bought a new stake in Blink Charging during the second quarter worth $33,000. The Manufacturers Life Insurance Company lifted its stake in Blink Charging by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 37,469 shares of the company’s stock worth $103,000 after purchasing an additional 16,549 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in Blink Charging during the third quarter worth $33,000. 44.64% of the stock is currently owned by 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.