Blink Charging (NASDAQ:BLNK) Lowered to Hold Rating by Needham & Company LLC

Blink Charging (NASDAQ:BLNK) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

Several other equities research analysts have also weighed in on BLNK. UBS Group lowered shares of Blink Charging from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. HC Wainwright lowered 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 report on Friday, August 9th. Stifel Nicolaus cut their price objective on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.64.

Blink Charging Price Performance

Shares of NASDAQ:BLNK opened at $1.58 on Tuesday. The company’s fifty day moving average is $1.88 and its two-hundred day moving average is $2.46. Blink Charging has a 1-year low of $1.50 and a 1-year 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 the business’s stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the acquisition, the director now directly owns 175,718 shares of the company’s stock, valued at $298,720.60. This trade represents a 12.84 % increase in their ownership of the stock. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Blink Charging by 12.6% in the first 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 in the last quarter. AQR Capital Management LLC boosted its position in Blink Charging by 224.9% during the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock worth $2,206,000 after acquiring an additional 557,336 shares during the period. BNP Paribas Financial Markets grew its stake in Blink Charging by 36.3% during the 1st quarter. BNP Paribas Financial Markets now owns 39,601 shares of the company’s stock valued at $119,000 after acquiring an additional 10,554 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Blink Charging by 48.9% in the 1st quarter. SG Americas Securities LLC now owns 26,376 shares of the company’s stock valued at $79,000 after purchasing an additional 8,668 shares during the period. Finally, CWM LLC lifted its position in shares of Blink Charging by 60.2% in the second quarter. CWM LLC now owns 15,520 shares of the company’s stock worth $43,000 after purchasing an additional 5,834 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other 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.