Blink Charging (NASDAQ:BLNK) Trading Down 7.2%

Blink Charging Co. (NASDAQ:BLNKGet Rating)’s stock price was down 7.2% during trading on Thursday . The company traded as low as $18.48 and last traded at $18.53. Approximately 3,911 shares were traded during trading, a decline of 100% from the average daily volume of 870,852 shares. The stock had previously closed at $19.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BLNK shares. DA Davidson increased their price target on shares of Blink Charging to $19.00 in a report on Monday, August 15th. B. Riley assumed coverage on shares of Blink Charging in a research report on Friday, June 17th. They set a “neutral” rating and a $15.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Blink Charging from $19.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 16th. Finally, Needham & Company LLC increased their price objective on shares of Blink Charging from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, June 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.67.

Blink Charging Price Performance

The company’s 50-day simple moving average is $21.36 and its two-hundred day simple moving average is $20.44. The firm has a market capitalization of $794.11 million, a P/E ratio of -11.13 and a beta of 3.35.

Insider Transactions at Blink Charging

In other news, General Counsel Aviv Hillo sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $23.77, for a total value of $237,700.00. Following the completion of the transaction, the general counsel now owns 115,026 shares of the company’s stock, valued at $2,734,168.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Aviv Hillo sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $23.77, for a total value of $237,700.00. Following the completion of the transaction, the general counsel now owns 115,026 shares of the company’s stock, valued at $2,734,168.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Board Member Mahidhar Reddy sold 10,815 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $23.89, for a total value of $258,370.35. Following the transaction, the insider now directly owns 210,549 shares of the company’s stock, valued at $5,030,015.61. The disclosure for this sale can be found here. Insiders sold a total of 31,630 shares of company stock valued at $733,784 over the last 90 days. Company insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On Blink Charging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLNK. Private Advisor Group LLC boosted its stake in Blink Charging by 46.2% during the fourth quarter. Private Advisor Group LLC now owns 12,178 shares of the company’s stock valued at $323,000 after buying an additional 3,849 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in Blink Charging during the fourth quarter valued at approximately $283,000. Hilltop Holdings Inc. boosted its stake in Blink Charging by 20.2% during the fourth quarter. Hilltop Holdings Inc. now owns 14,138 shares of the company’s stock valued at $375,000 after buying an additional 2,378 shares during the last quarter. Gotham Asset Management LLC bought a new position in Blink Charging during the fourth quarter valued at approximately $261,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Blink Charging by 83.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,200 shares of the company’s stock valued at $58,000 after purchasing an additional 1,000 shares during the last quarter. 36.30% of the stock is owned by institutional investors.

About Blink Charging

(Get Rating)

Blink Charging Co, through its subsidiaries, owns, operates, 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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