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

Blink Charging Co. (NASDAQ:BLNK - Get Free Report) saw unusually large options trading activity on Wednesday. Traders acquired 16,092 call options on the company. This is an increase of approximately 1,095% compared to the average volume of 1,347 call options.

Institutional Trading of Blink Charging

A number of hedge funds and other institutional investors have recently made changes to their positions in BLNK. American Century Companies Inc. grew its stake in shares of Blink Charging by 8.4% in the 4th quarter. American Century Companies Inc. now owns 130,783 shares of the company's stock worth $182,000 after purchasing an additional 10,123 shares during the last quarter. Bank of America Corp DE increased its position in shares of Blink Charging by 10.0% in the fourth 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 in the last quarter. Northern Trust Corp increased its position in shares of Blink Charging by 1.7% in the fourth quarter. Northern Trust Corp now owns 794,156 shares of the company's stock worth $1,104,000 after acquiring an additional 13,336 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Blink Charging by 6.3% in the first 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. Finally, Intech Investment Management LLC increased its position in shares of Blink Charging by 59.5% in the fourth quarter. Intech Investment Management LLC now owns 48,569 shares of the company's stock worth $68,000 after acquiring an additional 18,110 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors.

Blink Charging Stock Performance

Shares of Blink Charging stock traded down $0.02 during trading hours on Friday, reaching $0.93. The company's stock had a trading volume of 7,575,239 shares, compared to its average volume of 4,283,657. The stock has a market cap of $95.63 million, a P/E ratio of -0.47 and a beta of 3.28. The company's 50 day simple moving average is $0.78 and its 200 day simple moving average is $1.06. Blink Charging has a one year low of $0.63 and a one year high of $3.75.

Blink Charging (NASDAQ:BLNK - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.04). Blink Charging had a negative return on equity of 39.14% and a negative net margin of 184.37%. The company had revenue of $20.75 million for the quarter, compared to the consensus estimate of $27.60 million. On average, sell-side analysts predict that Blink Charging will post -0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BLNK. Needham & Company LLC reaffirmed a "hold" rating on shares of Blink Charging in a research note on Tuesday, May 13th. Roth Mkm reissued a "buy" rating and issued a $3.00 target price (down previously from $4.00) on shares of Blink Charging in a research note on Friday, March 14th. Stifel Nicolaus cut their target price on shares of Blink Charging from $2.00 to $1.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. HC Wainwright cut their target price on shares of Blink Charging from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Benchmark cut their target price on shares of Blink Charging from $5.00 to $2.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Blink Charging has a consensus rating of "Hold" and an average target price of $2.47.

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.