Traders Buy High Volume of Blink Charging Call Options (NASDAQ:BLNK)

Blink Charging Co. (NASDAQ:BLNK) was the target of some unusual options trading activity on Friday. Investors acquired 4,365 call options on the stock. This represents an increase of 44% compared to the average volume of 3,030 call options.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays lowered their target price on shares of Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, July 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a research report on Saturday, September 27th. Needham & Company LLC reiterated a “hold” rating on shares of Blink Charging in a report on Tuesday, August 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research note on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.13.

Institutional Trading of Blink Charging

Several hedge funds have recently bought and sold shares of BLNK. Wealth Enhancement Advisory Services LLC bought a new position in Blink Charging in the first quarter valued at approximately $30,000. Millennium Management LLC acquired a new stake in shares of Blink Charging during the fourth quarter worth $43,000. Invesco Ltd. boosted its stake in Blink Charging by 20.1% in the 1st quarter. Invesco Ltd. now owns 1,185,794 shares of the company’s stock worth $1,088,000 after purchasing an additional 198,350 shares during the period. Nuveen LLC acquired a new position in Blink Charging in the 1st quarter worth $506,000. Finally, Bank of New York Mellon Corp increased its holdings in Blink Charging by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 247,250 shares of the company’s stock worth $227,000 after purchasing an additional 14,625 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Blink Charging Stock Up 13.6%

BLNK opened at $2.00 on Friday. The stock has a market cap of $209.42 million, a P/E ratio of -0.95 and a beta of 3.54. Blink Charging has a 12 month low of $0.63 and a 12 month high of $2.32. The company has a fifty day simple moving average of $1.19 and a 200 day simple moving average of $0.97.

Blink Charging (NASDAQ:BLNK) last posted its earnings results on Monday, August 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $28.67 million during the quarter, compared to analyst estimates of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%. On average, equities research analysts expect that Blink Charging will post -0.64 earnings per share for the current fiscal year.

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.