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

Blink Charging Co. (NASDAQ:BLNK) saw some unusual options trading on Tuesday. Traders purchased 8,461 call options on the stock. This represents an increase of approximately 66% compared to the typical daily volume of 5,108 call options.

Blink Charging Price Performance

Blink Charging stock opened at $1.68 on Wednesday. The stock has a market capitalization of $169.97 million, a PE ratio of -1.11 and a beta of 2.61. The business has a 50 day simple moving average of $1.64 and a 200-day simple moving average of $2.08. Blink Charging has a 12 month low of $1.38 and a 12 month high of $3.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Blink Charging by 108.4% during the second quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock worth $1,107,000 after buying an additional 210,116 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Blink Charging during the 2nd quarter valued at about $30,000. Rhumbline Advisers raised its holdings in Blink Charging by 70.5% in the 2nd quarter. Rhumbline Advisers now owns 133,055 shares of the company’s stock valued at $365,000 after acquiring an additional 55,014 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Blink Charging in the 2nd quarter worth approximately $33,000. Finally, American Century Companies Inc. boosted its holdings 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 worth $200,000 after purchasing an additional 28,265 shares during the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on BLNK shares. UBS Group downgraded Blink Charging from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. Needham & Company LLC lowered Blink Charging from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Blink Charging in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, 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.