UBS Group Downgrades Blink Charging (NASDAQ:BLNK) to Neutral

UBS Group lowered shares of Blink Charging (NASDAQ:BLNK) from a buy rating to a neutral rating in a report released on Thursday morning, MarketBeat.com reports. UBS Group currently has $2.00 target price on the stock, down from their previous target price of $3.00.

Several other research firms have also recently issued reports on BLNK. HC Wainwright cut their target price on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a report on Tuesday, November 12th. Needham & Company LLC cut their price objective on Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.64.

Blink Charging Price Performance

Shares of NASDAQ:BLNK opened at $1.52 on Thursday. The firm’s 50 day simple moving average is $1.88 and its two-hundred day simple moving average is $2.47. The company has a market capitalization of $153.79 million, a P/E ratio of -1.01 and a beta of 2.65. Blink Charging has a 1-year low of $1.50 and a 1-year high of $4.66.

Insider Buying and Selling at Blink Charging

In related news, Director Jack Levine purchased 20,000 shares of Blink Charging stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $1.70 per share, with a total value of $34,000.00. Following the purchase, the director now directly owns 175,718 shares of the company’s stock, valued at approximately $298,720.60. This represents a 12.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kristina A. Peterson sold 24,077 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Blink Charging

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Blink Charging by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock valued at $9,809,000 after purchasing an additional 365,098 shares during the period. Geode Capital Management LLC boosted its position in Blink Charging by 10.7% during the third quarter. Geode Capital Management LLC now owns 2,314,558 shares of the company’s stock valued at $3,982,000 after purchasing an additional 222,949 shares in the last quarter. Stifel Financial Corp grew its stake in Blink Charging by 14.7% in the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock valued at $2,419,000 after purchasing an additional 180,027 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Blink Charging by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock worth $1,409,000 after purchasing an additional 79,969 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Blink Charging by 224.9% in the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after buying an additional 557,336 shares in the last quarter. 44.64% of the stock is 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.