Blink Charging price target lowered to $5 from $8 at H.C. Wainwright

H.C. Wainwright analyst Sameer Joshi lowered the firm’s price target on Blink Charging (BLNK) to $5 from $8 and keeps a Buy rating on the shares following the Q1 report. The firm cites continued weakness in product sales, which dropped down 69.5% year-over-year to $8.4M in Q1, for the target cut. The analyst remains cautious as Blink navigates the “prevailing headwinds” challenging the electric vehicle charging industry, as well as the uncertain macroeconomic and geopolitical environment. H.C. Wainwright believes the company continues to target monetization of its ride-sharing business during 2025.