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

Blink Charging Co. (NASDAQ:BLNK) saw unusually large options trading activity on Tuesday. Investors acquired 8,461 call options on the stock. This is an increase of approximately 66% compared to the average daily volume of 5,108 call options.

Blink Charging Price Performance

Blink Charging stock opened at $1.68 on Wednesday. The business has a 50 day simple moving average of $1.64 and a 200-day simple moving average of $2.08. Blink Charging has a 12 month low of $1.38 and a 12 month high of $3.75. The stock has a market capitalization of $169.97 million, a PE ratio of -1.11 and a beta of 2.61.

Wall Street Analysts Forecast Growth

BLNK has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Blink Charging in a research note on Tuesday, November 12th. UBS Group cut Blink Charging from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. Finally, Needham & Company LLC lowered Blink Charging from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.64.

Hedge Funds Weigh In On Blink Charging

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

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.