Blink Charging price target lowered to $5 from $11 at DA Davidson

DA Davidson lowered the firm’s price target on Blink Charging to $5 from $11 and keeps a Neutral rating on the shares. While demand appears healthy, Blink’s in- house manufacturing strategy appears to be notching continued progress relative to y/y gross margin expansion despite some mix headwinds, and the company appears much more cost- conscious, Blink is still likely in need of additional capital prior to achieving free cash flow positivity, the analyst tells investors in a research note.