Blink Charging (NASDAQ:BLNK) Cut to “Hold” at Needham & Company LLC

by · The Markets Daily

Needham & Company LLC lowered shares of Blink Charging (NASDAQ:BLNK – Free Report) from a buy rating to a hold rating in a research note released on Tuesday morning, MarketBeat Ratings reports.

Other analysts have also issued reports about the stock. HC Wainwright reduced their price target on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research report on Tuesday, November 12th. UBS Group cut Blink Charging from a “buy” rating to a “neutral” rating and lowered their price target for the company from $3.00 to $2.00 in a research report on Thursday, November 14th. Finally, Stifel Nicolaus dropped their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Blink Charging currently has an average rating of “Hold” and an average price target of $5.64.

Get Our Latest Stock Analysis on Blink Charging

Blink Charging Stock Up 0.7 %

BLNK stock opened at $1.53 on Tuesday. The company has a 50-day simple moving average of $1.86 and a 200 day simple moving average of $2.43. The company has a market capitalization of $154.80 million, a P/E ratio of -1.01 and a beta of 2.65. Blink Charging has a fifty-two week low of $1.48 and a fifty-two week high of $4.48.

Insider Buying and Selling at Blink Charging

In other news, Director Kristina A. Peterson sold 24,077 shares of Blink Charging stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack Levine purchased 20,000 shares of Blink Charging stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $1.70 per share, with a total value of $34,000.00. Following the transaction, the director now owns 175,718 shares in the company, valued at $298,720.60. This represents a 12.84 % increase in their position. The disclosure for this purchase can be found here. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blink Charging

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLNK. Cetera Advisors LLC boosted its position in shares of Blink Charging by 36.1% in the first quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock worth $42,000 after buying an additional 3,673 shares during the period. CWM LLC boosted its position in Blink Charging by 60.2% during the 2nd quarter. CWM LLC now owns 15,520 shares of the company’s stock worth $43,000 after acquiring an additional 5,834 shares during the period. SG Americas Securities LLC grew its stake in Blink Charging by 48.9% during the 1st quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock valued at $79,000 after acquiring an additional 8,668 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Blink Charging by 14.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,477 shares of the company’s stock valued at $215,000 after purchasing an additional 8,955 shares during the period. Finally, BCGM Wealth Management LLC purchased a new stake in shares of Blink Charging in the second quarter worth approximately $27,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

About Blink Charging

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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.

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