Charles Schwab Investment Management Inc. Purchases 79,969 Shares of Blink Charging Co. (NASDAQ:BLNK)

Charles Schwab Investment Management Inc. lifted its stake in shares of Blink Charging Co. (NASDAQ:BLNK) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 819,108 shares of the company’s stock after purchasing an additional 79,969 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.81% of Blink Charging worth $1,409,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BLNK. BCGM Wealth Management LLC acquired a new position in shares of Blink Charging during the second quarter valued at about $27,000. Hsbc Holdings PLC bought a new position in Blink Charging in the 2nd quarter worth $29,000. Principal Financial Group Inc. purchased a new position in shares of Blink Charging during the second quarter valued at approximately $30,000. Victory Capital Management Inc. purchased a new position in Blink Charging in the 2nd quarter worth approximately $33,000. Finally, United Advisor Group LLC purchased a new stake in Blink Charging during the third quarter valued at $34,000. 44.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

BLNK has been the topic of several research reports. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Blink Charging in a report on Tuesday, November 12th. Needham & Company LLC lowered shares of Blink Charging from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, UBS Group cut shares of 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 research report 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.64.

Blink Charging Stock Performance

BLNK stock opened at $1.60 on Tuesday. The business has a 50-day simple moving average of $1.81 and a two-hundred day simple moving average of $2.25. Blink Charging Co. has a 52-week low of $1.48 and a 52-week high of $4.48. The company has a market capitalization of $161.88 million, a P/E ratio of -1.06 and a beta of 2.58.

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.