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

Blink Charging Co. (NASDAQ:BLNK) has been assigned an average recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3.00.

BLNK has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a report on Friday. Wall Street Zen upgraded Blink Charging from a “sell” rating to a “hold” rating in a report on Saturday, May 16th.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently bought and sold shares of BLNK. AQR Capital Management LLC boosted its holdings in Blink Charging by 8,386.8% during the 1st quarter. AQR Capital Management LLC now owns 884,410 shares of the company’s stock valued at $812,000 after acquiring an additional 873,989 shares during the period. Marshall Wace LLP purchased a new position in Blink Charging during the 2nd quarter valued at about $119,000. Jump Financial LLC purchased a new position in Blink Charging during the 2nd quarter valued at about $60,000. Engineers Gate Manager LP boosted its holdings in Blink Charging by 58.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after acquiring an additional 10,851 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Blink Charging during the 3rd quarter valued at about $59,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Blink Charging Trading Down 4.7%

Shares of NASDAQ:BLNK opened at $0.78 on Wednesday. The business has a 50-day moving average price of $0.70 and a 200 day moving average price of $0.83. The company has a market capitalization of $112.26 million, a price-to-earnings ratio of -1.17 and a beta of 1.99. Blink Charging has a 12-month low of $0.45 and a 12-month high of $2.65.

Blink Charging (NASDAQ:BLNK) last announced its earnings results on Monday, May 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Blink Charging had a negative return on equity of 83.40% and a negative net margin of 73.75%.The company had revenue of $20.78 million during the quarter, compared to analysts’ expectations of $21.70 million. As a group, equities research analysts predict that Blink Charging will post -0.17 earnings per share for the current fiscal year.

About Blink Charging

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.