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

Blink Charging Co (NASDAQ:BLNK) was the recipient of some unusual options trading on Monday. Stock traders acquired 2,238 call options on the stock. This is an increase of approximately 311% compared to the average volume of 545 call options.

Shares of BLNK opened at $5.68 on Wednesday. The stock has a 50 day simple moving average of $2.11 and a 200 day simple moving average of $2.04. Blink Charging has a 52-week low of $1.25 and a 52-week high of $6.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 1.42. The firm has a market capitalization of $84.86 million, a PE ratio of -13.85 and a beta of 2.21.

Blink Charging (NASDAQ:BLNK) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The company had revenue of $1.30 million during the quarter, compared to the consensus estimate of $1.19 million. Blink Charging had a negative net margin of 307.75% and a negative return on equity of 123.47%. Equities research analysts predict that Blink Charging will post -0.36 EPS for the current fiscal year.

In related news, Director Jack Levine bought 20,000 shares of Blink Charging stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $2.77 per share, for a total transaction of $55,400.00. Following the completion of the acquisition, the director now owns 45,000 shares in the company, valued at $124,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired 50,287 shares of company stock worth $129,781 in the last three months. Insiders own 28.70% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Vista Capital Partners Inc. acquired a new position in Blink Charging in the 1st quarter worth $36,000. Oxford Asset Management LLP acquired a new stake in shares of Blink Charging in the 4th quarter valued at about $39,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Blink Charging in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 6.02% of the company’s stock.

BLNK has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a report on Sunday, June 14th. Zacks Investment Research downgraded Blink Charging from a “hold” rating to a “sell” rating in a research note on Monday, June 15th.

Blink Charging Company Profile

Blink Charging Co owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types. It also provides Blink Network, a cloud-based software that operates, maintains, and tracks various Blink EV charging stations and associated charging data, as well as provides property owners, managers, and parking companies with cloud-based services that enable the remote monitoring and management of EV charging stations and payment processing.

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