Verition Fund Management LLC Makes New $48,000 Investment in Blink Charging Co. (NASDAQ:BLNK)

Verition Fund Management LLC purchased a new stake in Blink Charging Co. (NASDAQ:BLNK) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,665 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Blink Charging by 224.9% during the second quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock worth $2,206,000 after buying an additional 557,336 shares during the last quarter. CWM LLC raised its holdings in shares of Blink Charging by 60.2% during the 2nd quarter. CWM LLC now owns 15,520 shares of the company’s stock worth $43,000 after acquiring an additional 5,834 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Blink Charging during the 2nd quarter valued at about $843,000. American Century Companies Inc. grew its holdings in shares of Blink Charging by 63.4% in the second quarter. American Century Companies Inc. now owns 72,840 shares of the company’s stock valued at $200,000 after purchasing an additional 28,265 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Blink Charging during the third quarter worth about $122,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Blink Charging Stock Performance

Blink Charging stock opened at $1.58 on Wednesday. The company’s 50 day simple moving average is $1.80 and its 200-day simple moving average is $2.24. Blink Charging Co. has a 1 year low of $1.48 and a 1 year high of $4.48. The company has a market capitalization of $159.86 million, a price-to-earnings ratio of -1.05 and a beta of 2.58.

Insider Activity at Blink Charging

In other news, Director Kristina A. Peterson sold 24,077 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.80, for a total transaction of $43,338.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jack Levine acquired 20,000 shares of Blink Charging stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $1.70 per share, for a total transaction of $34,000.00. Following the completion of the purchase, the director now owns 175,718 shares of the company’s stock, valued at approximately $298,720.60. This represents a 12.84 % increase in their position. The disclosure for this purchase can be found here. 6.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BLNK shares. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a report on Tuesday, November 12th. UBS Group cut Blink Charging from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.00 to $2.00 in a report on Thursday, November 14th. Finally, Needham & Company LLC cut Blink Charging from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.