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

Blink Charging Co. (NASDAQ:BLNK) saw some unusual options trading on Friday. Investors bought 4,365 call options on the company. This represents an increase of 44% compared to the typical volume of 3,030 call options.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP boosted its stake in Blink Charging by 58.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,312 shares of the company’s stock valued at $28,000 after purchasing an additional 10,851 shares during the last quarter. Bank of America Corp DE boosted its stake in Blink Charging by 10.0% during the 4th quarter. Bank of America Corp DE now owns 135,663 shares of the company’s stock valued at $189,000 after purchasing an additional 12,362 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 valued at $227,000 after purchasing an additional 14,625 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Blink Charging by 62.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 61,146 shares of the company’s stock valued at $57,000 after purchasing an additional 23,438 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Blink Charging during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

Blink Charging Price Performance

Shares of BLNK opened at $2.00 on Friday. The stock has a 50-day moving average of $1.19 and a 200-day moving average of $0.97. The company has a market cap of $209.42 million, a PE ratio of -0.95 and a beta of 3.54. Blink Charging has a one year low of $0.63 and a one year high of $2.32.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Monday, August 18th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $28.67 million during the quarter, compared to analyst estimates of $22.46 million. Blink Charging had a negative net margin of 203.81% and a negative return on equity of 63.06%. Analysts expect that Blink Charging will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BLNK. 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. Needham & Company LLC restated a “hold” rating on shares of Blink Charging in a report on Tuesday, August 19th. Barclays decreased their price objective on Blink Charging from $1.50 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, July 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Blink Charging in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.13.

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.