Blink Charging (NASDAQ:BLNK) Price Target Cut to $2.00 by Analysts at Benchmark

Blink Charging (NASDAQ:BLNK) had its target price decreased by Benchmark from $5.00 to $2.00 in a report released on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other brokerages have also recently commented on BLNK. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a research note on Friday. UBS Group cut their target price on shares of Blink Charging from $2.00 to $1.70 and set a “neutral” rating for the company in a research report on Monday, January 27th. Barclays cut their target price on shares of Blink Charging from $3.00 to $1.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Blink Charging in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.59.

Blink Charging Stock Up 6.0 %

Shares of NASDAQ BLNK opened at $0.95 on Friday. Blink Charging has a 52 week low of $0.87 and a 52 week high of $3.75. The firm has a 50-day moving average price of $1.19 and a 200 day moving average price of $1.56. The stock has a market capitalization of $96.54 million, a price-to-earnings ratio of -0.63 and a beta of 2.86.

Institutional Investors Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently modified their holdings of BLNK. Man Group plc purchased a new stake in shares of Blink Charging during the fourth quarter worth about $626,000. Geode Capital Management LLC grew its holdings in shares of Blink Charging by 10.7% during the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock worth $3,982,000 after buying an additional 222,949 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Blink Charging by 14.7% during the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after buying an additional 180,027 shares in the last quarter. Invesco Ltd. grew its holdings in Blink Charging by 19.4% in the fourth quarter. Invesco Ltd. now owns 987,444 shares of the company’s stock valued at $1,373,000 after purchasing an additional 160,251 shares during the period. Finally, Caption Management LLC purchased a new stake in Blink Charging in the fourth quarter valued at approximately $180,000. 44.64% of the stock is currently owned by hedge funds and other 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.