Blink Charging Target of Unusually High Options Trading (NASDAQ:BLNK)

Blink Charging Co. (NASDAQ:BLNK) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 8,461 call options on the company. This is an increase of 66% compared to the average volume of 5,108 call options.

Institutional Trading of Blink Charging

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new stake in shares of Blink Charging in the 2nd quarter worth about $29,000. Principal Financial Group Inc. acquired a new stake in shares of Blink Charging during the 2nd quarter valued at approximately $30,000. Victory Capital Management Inc. bought a new position in shares of Blink Charging in the 2nd quarter worth about $33,000. DRW Securities LLC acquired a new position in shares of Blink Charging in the 3rd quarter valued at about $33,000. Finally, United Advisor Group LLC acquired a new stake in Blink Charging during the third quarter worth about $34,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research report on Tuesday, November 12th. Needham & Company LLC downgraded Blink Charging from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, UBS Group lowered Blink Charging from a “buy” rating to a “neutral” rating and reduced their price objective 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.64.

Blink Charging Stock Performance

NASDAQ:BLNK opened at $1.61 on Thursday. Blink Charging has a one year low of $1.38 and a one year high of $3.75. The business’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $2.07. The stock has a market cap of $162.89 million, a price-to-earnings ratio of -1.07 and a beta of 2.61.

Blink Charging Company Profile

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.