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

Blink Charging Co. (NASDAQ:BLNK) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 8,461 call options on the stock. This represents an increase of 66% compared to the typical daily volume of 5,108 call options.

Blink Charging Stock Performance

Shares of BLNK opened at $1.61 on Thursday. The company has a market capitalization of $162.89 million, a PE ratio of -1.07 and a beta of 2.61. Blink Charging has a 52 week low of $1.38 and a 52 week high of $3.75. The company’s 50 day moving average price is $1.63 and its 200 day moving average price is $2.07.

Hedge Funds Weigh In On Blink Charging

A number of institutional investors have recently modified their holdings of BLNK. Hsbc Holdings PLC bought a new position in Blink Charging during the second quarter worth $29,000. Principal Financial Group Inc. bought a new position in shares of Blink Charging during the 2nd quarter worth approximately $30,000. Victory Capital Management Inc. bought a new stake in shares of Blink Charging in the 2nd quarter worth about $33,000. DRW Securities LLC bought a new position in shares of Blink Charging in the third quarter valued at approximately $33,000. Finally, United Advisor Group LLC acquired a new position in Blink Charging in the third quarter worth $34,000. Institutional investors own 44.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BLNK shares. Needham & Company LLC lowered shares of Blink Charging from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. UBS Group cut 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 note on Thursday, November 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.64.

About Blink Charging

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.