Needham slashes price target on Blink Charging Co. [BLNK] – find out why.

Blink Charging Co. [NASDAQ: BLNK] stock went on a downward path that fall over -0.39% on Thursday, amounting to a one-week price decrease of less than -5.62%. The company report on March 16, 2023 that Blink Charging Announces Contract with United States Postal Service to Provide EV Charging Stations and Network Services for Growing EV Fleet.

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Following a competitive solicitation process, Blink was awarded a contract to provide the US Postal Service Electric Vehicle Supply Equipment.

Over the last 12 months, BLNK stock dropped by -64.93%. The one-year Blink Charging Co. stock forecast points to a potential upside of 64.21. The average equity rating for BLNK stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $477.25 million, with 50.63 million shares outstanding and 41.25 million shares in the current float. Compared to the average trading volume of 2.03M shares, BLNK stock reached a trading volume of 4739286 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Blink Charging Co. [BLNK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLNK shares is $21.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLNK stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Blink Charging Co. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, Needham dropped their target price from $27 to $18. The new note on the price target was released on October 20, 2022, representing the official price target for Blink Charging Co. stock. Previously, the target price had yet another raise to $15, while B. Riley Securities analysts kept a Neutral rating on BLNK stock.

The Average True Range (ATR) for Blink Charging Co. is set at 0.71, with the Price to Sales ratio for BLNK stock in the period of the last 12 months amounting to 7.81. The Price to Book ratio for the last quarter was 1.45.

BLNK Stock Performance Analysis:

Blink Charging Co. [BLNK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.62. With this latest performance, BLNK shares dropped by -25.19% in over the last four-week period, additionally sinking by -65.90% over the last 6 months – not to mention a drop of -64.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLNK stock in for the last two-week period is set at 26.29, with the RSI for the last a single of trading hit 19.30, and the three-weeks RSI is set at 31.22 for Blink Charging Co. [BLNK]. The present Moving Average for the last 50 days of trading for this stock 11.16, while it was recorded at 7.83 for the last single week of trading, and 15.50 for the last 200 days.

Insight into Blink Charging Co. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Blink Charging Co. [BLNK] shares currently have an operating margin of -146.01 and a Gross Margin at -85.43. Blink Charging Co.’s Net Margin is presently recorded at -149.76.

Return on Equity for this stock declined to -38.57, with Return on Assets sitting at -30.80.

Blink Charging Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.70.

Blink Charging Co. [BLNK] Insider Position Details

There are presently around $134 million, or 28.80% of BLNK stock, in the hands of institutional investors. The top three institutional holders of BLNK stocks are: BLACKROCK INC. with ownership of 2,979,948, which is approximately 13.192% of the company’s market cap and around 5.00% of the total institutional ownership; VANGUARD GROUP INC, holding 2,185,138 shares of the stock with an approximate value of $16.87 million in BLNK stocks shares; and STATE STREET CORP, currently with $10.04 million in BLNK stock with ownership of nearly 21.188% of the company’s market capitalization.

Positions in Blink Charging Co. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 92 institutional holders increased their position in Blink Charging Co. [NASDAQ:BLNK] by around 4,814,552 shares. Additionally, 75 investors decreased positions by around 1,562,594 shares, while 57 investors held positions by with 10,919,183 shares. The mentioned changes placed institutional holdings at 17,296,329 shares, according to the latest SEC report filing. BLNK stock had 39 new institutional investments in for a total of 472,995 shares, while 32 institutional investors sold positions of 344,131 shares during the same period.


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