Verition Fund Management LLC Takes $48,000 Position in Blink Charging Co. (NASDAQ:BLNK)

Verition Fund Management LLC bought a new position in Blink Charging Co. (NASDAQ:BLNK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 27,665 shares of the company’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Blink Charging by 224.9% in the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after acquiring an additional 557,336 shares during the last quarter. CWM LLC boosted its holdings in Blink Charging by 60.2% in the second quarter. CWM LLC now owns 15,520 shares of the company’s stock valued at $43,000 after purchasing an additional 5,834 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Blink Charging during the 2nd quarter worth about $843,000. American Century Companies Inc. raised its stake in shares of Blink Charging by 63.4% during the 2nd quarter. American Century Companies Inc. now owns 72,840 shares of the company’s stock valued at $200,000 after buying an additional 28,265 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Blink Charging in the 3rd quarter valued at about $122,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Insider Activity at Blink Charging

In other news, Director Jack Levine bought 20,000 shares of Blink Charging stock in a transaction on Thursday, September 26th. The stock was acquired at an average price of $1.70 per share, with a total value of $34,000.00. Following the completion of the acquisition, the director now directly owns 175,718 shares of the company’s stock, valued at $298,720.60. The trade was a 12.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina A. Peterson sold 24,077 shares of Blink Charging stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total value of $43,338.60. The disclosure for this sale can be found here. 6.50% of the stock is owned by corporate insiders.

Blink Charging Price Performance

Blink Charging stock opened at $1.58 on Wednesday. The stock has a market capitalization of $159.86 million, a PE ratio of -1.05 and a beta of 2.58. The business has a 50 day simple moving average of $1.80 and a 200-day simple moving average of $2.24. Blink Charging Co. has a 12 month low of $1.48 and a 12 month high of $4.48.

Wall Street Analyst Weigh In

BLNK has been the subject of several recent research reports. Needham & Company LLC cut Blink Charging from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. UBS Group cut shares of Blink Charging from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Blink Charging currently has an average rating of “Hold” and a consensus target price of $5.64.

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.