Blink Charging (NASDAQ:BLNK) Given New $2.00 Price Target at Stifel Nicolaus

Blink Charging (NASDAQ:BLNK) had its target price decreased by equities researchers at Stifel Nicolaus from $3.50 to $2.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 112.54% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research note on Friday, March 14th. Roth Mkm reiterated a “buy” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Benchmark dropped their target price on shares of Blink Charging from $5.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Barclays reduced their target price on Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, UBS Group dropped their price target on Blink Charging from $2.00 to $1.70 and set a “neutral” rating on the stock in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blink Charging presently has a consensus rating of “Hold” and an average price target of $3.17.

Blink Charging Stock Down 6.8 %

BLNK traded down $0.07 during trading on Wednesday, hitting $0.94. 4,715,680 shares of the company’s stock were exchanged, compared to its average volume of 4,716,130. The stock has a market cap of $95.21 million, a P/E ratio of -0.62 and a beta of 2.86. The business’s 50 day moving average is $1.11 and its two-hundred day moving average is $1.52. Blink Charging has a fifty-two week low of $0.87 and a fifty-two week high of $3.75.

Blink Charging (NASDAQ:BLNK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The business had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.77 million. Blink Charging had a negative return on equity of 25.50% and a negative net margin of 104.02%. The company’s quarterly revenue was down 29.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) EPS. On average, sell-side analysts forecast that Blink Charging will post -0.64 earnings per share for the current year.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new position in shares of Blink Charging in the fourth quarter worth about $107,000. Man Group plc purchased a new position in Blink Charging in the 4th quarter valued at approximately $626,000. Millennium Management LLC bought a new stake in Blink Charging during the 4th quarter valued at $43,000. Deutsche Bank AG lifted its position in shares of Blink Charging by 23.4% during the fourth quarter. Deutsche Bank AG now owns 98,906 shares of the company’s stock worth $137,000 after acquiring an additional 18,771 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Blink Charging in the fourth quarter worth $57,000. 44.64% of the stock is currently owned by institutional investors.

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.