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

Blink Charging (NASDAQ:BLNK) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They presently have a $2.00 target price on the stock, down from their prior target price of $3.00. UBS Group’s price target would indicate a potential upside of 18.34% from the stock’s current price.

Several other research analysts have also recently weighed in on BLNK. HC Wainwright reduced their price target 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 restated a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a research note on Tuesday. Stifel Nicolaus cut their target price on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Needham & Company LLC reduced their target price on shares of Blink Charging from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.64.

Blink Charging Stock Down 5.1 %

Blink Charging stock opened at $1.69 on Thursday. The company has a market capitalization of $170.94 million, a price-to-earnings ratio of -1.12 and a beta of 2.65. Blink Charging has a 52 week low of $1.53 and a 52 week high of $4.66. The stock has a 50-day moving average price of $1.88 and a 200 day moving average price of $2.49.

Insider Buying and Selling at Blink Charging

In related news, Director Kristina A. Peterson sold 24,077 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack Levine purchased 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following the completion of the purchase, the director now directly owns 175,718 shares in the company, valued at $298,720.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blink Charging

A number of institutional investors have recently added to or reduced their stakes in BLNK. Vanguard Group Inc. raised its stake in Blink Charging by 12.6% during the first quarter. Vanguard Group Inc. now owns 3,258,881 shares of the company’s stock worth $9,809,000 after acquiring an additional 365,098 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Blink Charging by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock worth $1,409,000 after buying an additional 79,969 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Blink Charging by 224.9% in the second 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. Bank of New York Mellon Corp boosted its stake in Blink Charging by 108.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock worth $1,107,000 after purchasing an additional 210,116 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Blink Charging during the second quarter valued at $843,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.