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

Blink Charging (NASDAQ:BLNK) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat Ratings reports.

BLNK has been the topic of a number of other research reports. Stifel Nicolaus lowered their price objective on Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a research report on Tuesday, November 12th. HC Wainwright reduced their price objective on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, UBS Group lowered shares of Blink Charging from a “buy” rating to a “neutral” rating and lowered their target price for the company from $3.00 to $2.00 in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Blink Charging currently has a consensus rating of “Hold” and an average price target of $5.64.

Blink Charging Price Performance

BLNK stock opened at $1.58 on Tuesday. Blink Charging has a 12 month low of $1.50 and a 12 month high of $4.48. The firm has a 50 day moving average of $1.88 and a two-hundred day moving average of $2.46.

Insider Buying and Selling

In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of Blink Charging stock in a transaction on 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 filing with the SEC, which is accessible through this link. Also, Director Jack Levine bought 20,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the completion of the transaction, the director now owns 175,718 shares in the company, valued at $298,720.60. This represents a 12.84 % increase in their position. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blink Charging

Several institutional investors and hedge funds have recently made changes to their positions in the company. BCGM Wealth Management LLC bought a new position in shares of Blink Charging in the second quarter valued at approximately $27,000. Hsbc Holdings PLC acquired a new position in Blink Charging in the second quarter worth $29,000. Principal Financial Group Inc. bought a new stake in shares of Blink Charging during the second quarter worth $30,000. Victory Capital Management Inc. acquired a new stake in shares of Blink Charging in the second quarter valued at $33,000. Finally, Cetera Advisors LLC raised its holdings in shares of Blink Charging by 36.1% in the first quarter. Cetera Advisors LLC now owns 13,842 shares of the company’s stock valued at $42,000 after buying an additional 3,673 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

About Blink Charging

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.