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

Blink Charging Co. (NASDAQ:BLNK) saw some unusual options trading activity on Wednesday. Stock investors bought 4,620 call options on the stock. This represents an increase of 276% compared to the average daily volume of 1,230 call options.

Blink Charging Stock Up 12.1%

BLNK traded up $0.09 during trading on Wednesday, hitting $0.84. 2,436,036 shares of the company traded hands, compared to its average volume of 2,598,252. The firm has a market cap of $119.53 million, a P/E ratio of -1.06 and a beta of 1.83. The stock’s fifty day moving average is $0.64 and its 200 day moving average is $1.01. Blink Charging has a one year low of $0.45 and a one year high of $2.65.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BLNK. Wall Street Zen downgraded shares of Blink Charging from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blink Charging in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blink Charging currently has a consensus rating of “Hold” and an average target price of $2.33.

Institutional Trading of Blink Charging

A number of hedge funds have recently modified their holdings of BLNK. Engineers Gate Manager LP boosted its stake in Blink Charging by 58.8% in the 2nd 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 in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Blink Charging by 60.5% in the fourth quarter. Kestra Advisory Services LLC now owns 50,248 shares of the company’s stock worth $34,000 after buying an additional 18,950 shares during the last quarter. R Squared Ltd purchased a new position in shares of Blink Charging in the third quarter worth approximately $31,000. Squarepoint Ops LLC purchased a new stake in Blink Charging in the 3rd quarter worth approximately $33,000. Finally, Ethic Inc. bought a new stake in Blink Charging during the 3rd quarter worth approximately $35,000. Institutional investors own 44.64% of the company’s stock.

Blink Charging Company Profile

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.