Geode Capital Management LLC Buys 222,949 Shares of Blink Charging Co. (NASDAQ:BLNK)

Geode Capital Management LLC raised its stake in Blink Charging Co. (NASDAQ:BLNK) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,314,558 shares of the company’s stock after buying an additional 222,949 shares during the period. Geode Capital Management LLC owned about 2.29% of Blink Charging worth $3,982,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Blink Charging by 238.4% in the third quarter. Barclays PLC now owns 173,704 shares of the company’s stock worth $299,000 after acquiring an additional 122,367 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of Blink Charging in the 3rd quarter worth approximately $90,000. XTX Topco Ltd bought a new stake in shares of Blink Charging in the 3rd quarter valued at $129,000. Stifel Financial Corp increased its position in shares of Blink Charging by 14.7% during the third quarter. Stifel Financial Corp now owns 1,406,219 shares of the company’s stock worth $2,419,000 after buying an additional 180,027 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Blink Charging in the third quarter valued at $213,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BLNK shares. UBS Group downgraded Blink Charging from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.00 to $2.00 in a report on Thursday, November 14th. Needham & Company LLC downgraded Blink Charging from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Blink Charging in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.64.

Blink Charging Stock Performance

Shares of NASDAQ:BLNK opened at $1.60 on Monday. The firm has a market cap of $161.88 million, a P/E ratio of -1.06 and a beta of 2.61. Blink Charging Co. has a 52-week low of $1.38 and a 52-week high of $3.75. The business’s 50 day simple moving average is $1.66 and its two-hundred day simple moving average is $2.09.

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.