Blink Charging Co. (NASDAQ:BLNK) Receives Average Recommendation of “Hold” from Analysts

Shares of Blink Charging Co. (NASDAQ:BLNK) have been assigned an average rating of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2.1333.

BLNK has been the subject of several recent research reports. Wall Street Zen raised Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Blink Charging in a research note on Friday, January 9th. Finally, Zacks Research raised shares of Blink Charging from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th.

Insider Activity

In related news, CFO Michael Bercovich purchased 65,333 shares of Blink Charging stock in a transaction dated Friday, December 12th. The shares were acquired at an average cost of $0.77 per share, for a total transaction of $50,306.41. Following the transaction, the chief financial officer directly owned 188,563 shares of the company’s stock, valued at approximately $145,193.51. This trade represents a 53.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP grew its position in shares of Blink Charging by 58.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock worth $28,000 after buying an additional 10,851 shares during the period. Kestra Advisory Services LLC grew its holdings in Blink Charging by 60.5% during the fourth quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock valued at $34,000 after purchasing an additional 18,950 shares during the period. R Squared Ltd bought a new stake in Blink Charging in the third quarter valued at approximately $31,000. Squarepoint Ops LLC bought a new stake in Blink Charging in the third quarter valued at approximately $33,000. Finally, Ethic Inc. acquired a new stake in Blink Charging in the third quarter worth $35,000. Institutional investors own 44.64% of the company’s stock.

Blink Charging Stock Up 4.5%

Shares of BLNK opened at $0.69 on Monday. Blink Charging has a 12-month low of $0.63 and a 12-month high of $2.65. The firm has a market capitalization of $79.07 million, a PE ratio of -0.56 and a beta of 1.83. The stock’s fifty day simple moving average is $0.78 and its 200-day simple moving average is $1.20.

Blink Charging Company Profile

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.