Blink Charging (BLNK) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Blink Charging (NASDAQ:BLNK) in a research report sent to investors on Friday, AnalystRatings.com reports. The firm currently has a $5.00 price target on the stock.

“We believe that investors seeking access to the EV charging space should find Blink’s market position attractive. The company has capitalized on its early-mover advantage by executing a strategy of executing long-term contracts with property partners, and offering flexible payment plans to customers.”,” HC Wainwright’s analyst wrote.

Separately, Zacks Investment Research raised Blink Charging from a hold rating to a buy rating and set a $3.25 price target on the stock in a research report on Friday, April 5th.

Blink Charging stock traded down $0.10 during mid-day trading on Friday, reaching $2.75. 311,217 shares of the company were exchanged, compared to its average volume of 410,276. The company has a quick ratio of 3.74, a current ratio of 4.11 and a debt-to-equity ratio of 0.02. The firm has a market cap of $74.78 million, a P/E ratio of -2.12 and a beta of 4.89. Blink Charging has a 12-month low of $1.56 and a 12-month high of $7.98.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Monday, April 1st. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $0.92 million during the quarter, compared to analyst estimates of $0.58 million. Blink Charging had a negative return on equity of 46.68% and a negative net margin of 282.45%. Equities analysts expect that Blink Charging will post -0.45 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Blink Charging during the first quarter worth $33,000. Raymond James & Associates increased its position in shares of Blink Charging by 44.6% during the first quarter. Raymond James & Associates now owns 14,600 shares of the company’s stock worth $46,000 after purchasing an additional 4,500 shares in the last quarter. Creative Planning acquired a new position in shares of Blink Charging during the fourth quarter worth $26,000. Virtu Financial LLC acquired a new position in shares of Blink Charging during the fourth quarter worth $54,000. Finally, BlackRock Inc. increased its position in shares of Blink Charging by 77.4% during the fourth quarter. BlackRock Inc. now owns 47,598 shares of the company’s stock worth $82,000 after purchasing an additional 20,765 shares in the last quarter. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Blink Charging Company Profile

Blink Charging Co owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types. It also provides Blink Network, a cloud-based software that operates, maintains, and tracks various Blink EV charging stations and associated charging data, as well as provides property owners, managers, and parking companies with cloud-based services that enable the remote monitoring and management of EV charging stations and payment processing.

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