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

Blink Charging Co. (NASDAQ:BLNK) saw unusually large options trading on Monday. Investors bought 15,453 call options on the stock. This represents an increase of approximately 137% compared to the average volume of 6,524 call options.

Blink Charging Price Performance

BLNK stock traded down $0.01 during mid-day trading on Monday, reaching $1.99. The company had a trading volume of 5,115,150 shares, compared to its average volume of 5,737,627. The company has a market capitalization of $200.60 million, a price-to-earnings ratio of -0.70 and a beta of 2.66. Blink Charging has a 52 week low of $1.53 and a 52 week high of $4.66. The stock has a 50 day simple moving average of $1.91 and a two-hundred day simple moving average of $2.58.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The firm had revenue of $33.26 million during the quarter, compared to analyst estimates of $38.90 million. Blink Charging had a negative net margin of 108.11% and a negative return on equity of 22.70%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.44) EPS. On average, equities analysts predict that Blink Charging will post -0.62 EPS for the current year.

Insider Transactions at Blink Charging

In other Blink Charging news, Director Kristina A. Peterson sold 24,077 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.80, for a total transaction of $43,338.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Blink Charging news, Director Jack Levine purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average cost of $1.70 per share, with a total value of $34,000.00. Following the completion of the purchase, the director now directly owns 175,718 shares in the company, valued at approximately $298,720.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristina A. Peterson sold 24,077 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BLNK. SG Americas Securities LLC bought a new position in shares of Blink Charging in the third quarter valued at about $122,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Blink Charging by 49.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 106,864 shares of the company’s stock valued at $293,000 after purchasing an additional 35,387 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Blink Charging by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,469 shares of the company’s stock worth $103,000 after purchasing an additional 16,549 shares during the last quarter. AQR Capital Management LLC boosted its stake in Blink Charging by 224.9% in the 2nd quarter. AQR Capital Management LLC now owns 805,151 shares of the company’s stock valued at $2,206,000 after purchasing an additional 557,336 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Blink Charging in the 2nd quarter valued at $29,000. 44.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. B. Riley upgraded shares of Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Needham & Company LLC reduced their target price on Blink Charging from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. HC Wainwright lowered their price target on Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Benchmark initiated coverage on Blink Charging in a report on Wednesday, July 31st. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Stifel Nicolaus lowered their target price on Blink Charging from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

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.