DA Davidson Reiterates “Neutral” Rating for Blink Charging (NASDAQ:BLNK)

Blink Charging (NASDAQ:BLNK)‘s stock had its “neutral” rating restated by stock analysts at DA Davidson in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $5.00 price target on the stock. DA Davidson’s price target indicates a potential upside of 84.16% from the stock’s previous close.

Other analysts have also issued research reports about the company. HC Wainwright dropped their price target on Blink Charging from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday. Roth Mkm dropped their price target on Blink Charging from $25.00 to $12.00 and set a “buy” rating for the company in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 price objective on shares of Blink Charging in a research report on Wednesday, February 14th. Three equities 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, Blink Charging currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Blink Charging Price Performance

NASDAQ BLNK traded down $0.21 on Friday, reaching $2.72. 7,239,014 shares of the company’s stock traded hands, compared to its average volume of 7,883,290. The stock has a market cap of $183.02 million, a PE ratio of -0.84 and a beta of 2.78. Blink Charging has a 12 month low of $2.18 and a 12 month high of $8.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.42 and a quick ratio of 1.71. The stock has a 50-day simple moving average of $2.84 and a 200 day simple moving average of $3.09.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Blink Charging by 10.2% during the second quarter. BlackRock Inc. now owns 3,901,082 shares of the company’s stock valued at $23,367,000 after acquiring an additional 361,858 shares in the last quarter. Vanguard Group Inc. raised its position in Blink Charging by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 2,893,783 shares of the company’s stock valued at $9,810,000 after purchasing an additional 148,789 shares during the period. Invesco Ltd. raised its holdings in shares of Blink Charging by 35.8% in the 3rd quarter. Invesco Ltd. now owns 2,157,046 shares of the company’s stock valued at $6,601,000 after buying an additional 568,417 shares during the period. State Street Corp raised its position in Blink Charging by 42.8% in the 2nd quarter. State Street Corp now owns 1,991,123 shares of the company’s stock valued at $11,927,000 after purchasing an additional 596,719 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Blink Charging by 105.5% in the second quarter. Great West Life Assurance Co. Can now owns 1,802,815 shares of the company’s stock valued at $10,766,000 after acquiring an additional 925,354 shares in the last quarter. 34.98% 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.