Blink Charging Target of Unusually High Options Trading (NASDAQ:BLNK)

Key Points

• Blink Charging Co. experienced a significant surge in options trading, with investors purchasing 4,365 call options, marking a 44% increase from the average daily volume.
• The company's stock price increased to $2.15, with a trading volume of 5,853,184 shares, which is notably higher than its average volume of 3,660,328 shares.
• Blink Charging reported a loss of ($0.26) earnings per share for the last quarter, missing analysts' expectations but exceeding revenue estimates by generating $28.67 million.

Blink Charging Co. (NASDAQ:BLNK - Get Free Report) saw unusually large options trading on Friday. Stock investors bought 4,365 call options on the company. This represents an increase of approximately 44% compared to the typical daily volume of 3,030 call options.

Blink Charging Stock Performance

Shares of NASDAQ:BLNK traded up $0.39 during trading on Friday, reaching $2.15. The company had a trading volume of 5,853,184 shares, compared to its average volume of 3,660,328. The firm's fifty day moving average is $1.17 and its 200 day moving average is $0.97. The firm has a market capitalization of $224.71 million, a PE ratio of -1.02 and a beta of 3.54. Blink Charging has a twelve month low of $0.63 and a twelve month high of $2.32.

Blink Charging (NASDAQ:BLNK - Get Free Report) last announced 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 company had revenue of $28.67 million for the quarter, compared to analyst estimates of $22.46 million. Blink Charging had a negative return on equity of 63.06% and a negative net margin of 203.81%. Equities analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

BLNK has been the subject of several research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Blink Charging in a research note on Tuesday, August 19th. Barclays dropped 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 research report on Wednesday, July 23rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $5.00 price target on shares of Blink Charging in a research note on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Blink Charging presently has an average rating of "Hold" and a consensus target price of $2.13.

Institutional Trading of Blink Charging

Hedge funds and other institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP lifted its position in Blink Charging by 58.8% during the second quarter. Engineers Gate Manager LP now owns 29,312 shares of the company's stock worth $28,000 after purchasing an additional 10,851 shares during the period. Bank of America Corp DE lifted its holdings in shares of Blink Charging by 10.0% during the 4th quarter. Bank of America Corp DE now owns 135,663 shares of the company's stock worth $189,000 after acquiring an additional 12,362 shares during the period. Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 14,625 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Blink Charging by 62.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company's stock valued at $57,000 after acquiring an additional 23,438 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Blink Charging during the fourth quarter valued at approximately $43,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.

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