Toroso Investments LLC Cuts Stock Holdings in Blink Charging Co. (NASDAQ:BLNK)

Toroso Investments LLC lowered its stake in shares of Blink Charging Co. (NASDAQ:BLNK – Get Rating) by 15.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,425 shares of the company’s stock after selling 9,077 shares during the period. Toroso Investments LLC owned approximately 0.10% of Blink Charging worth $876,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Blink Charging in the second quarter valued at $383,000. Lazard Asset Management LLC acquired a new position in Blink Charging during the 2nd quarter valued at approximately $52,000. Activest Wealth Management bought a new stake in Blink Charging during the 3rd quarter valued at $34,000. Beacon Pointe Advisors LLC bought a new stake in Blink Charging during the 2nd quarter valued at $168,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Blink Charging by 24.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 40,175 shares of the company’s stock valued at $664,000 after acquiring an additional 7,990 shares in the last quarter. Institutional investors and hedge funds own 27.62% of the company’s stock.

Blink Charging Price Performance

Blink Charging stock opened at $7.52 on Friday. The stock has a fifty day moving average price of $11.11 and a two-hundred day moving average price of $13.71. The firm has a market capitalization of $453.94 million, a P/E ratio of -3.88 and a beta of 3.11. Blink Charging Co. has a 52-week low of $7.42 and a 52-week high of $29.99.

Insider Transactions at Blink Charging

In other Blink Charging news, Director Jack Levine bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The shares were bought at an average price of $10.22 per share, for a total transaction of $102,200.00. Following the completion of the acquisition, the director now owns 131,641 shares of the company’s stock, valued at $1,345,371.02. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Michael D. Farkas sold 143,634 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $10.81, for a total transaction of $1,552,683.54. Following the sale, the chief executive officer now owns 1,884,433 shares in the company, valued at $20,370,720.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack Levine bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The shares were acquired at an average price of $10.22 per share, for a total transaction of $102,200.00. Following the acquisition, the director now directly owns 131,641 shares of the company’s stock, valued at approximately $1,345,371.02. The disclosure for this purchase can be found here. Company insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BLNK shares. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Blink Charging in a research report on Wednesday, March 1st. Needham & Company LLC began coverage on Blink Charging in a report on Thursday, March 2nd. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.88.

About Blink Charging

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Blink Charging Co engages in the operation and provision of electric vehicles, charging equipment, and networked EV charging services. Its product line and services include the Blink EV charging network, charging equipment, also known as electric vehicle supply equipment, and EV charging services. The company was founded by Michael D.