Blink Charging Co. (NASDAQ:BLNK) Short Interest Up 5.8% in December

Blink Charging Co. (NASDAQ:BLNK) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 24,330,000 shares, a growth of 5.8% from the December 15th total of 23,000,000 shares. Based on an average daily volume of 4,940,000 shares, the days-to-cover ratio is currently 4.9 days.

Institutional Trading of Blink Charging

Several large investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Blink Charging by 8.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,415 shares of the company’s stock worth $200,000 after purchasing an additional 9,551 shares during the last quarter. Hsbc Holdings PLC bought a new position in Blink Charging in the second quarter valued at about $29,000. Victory Capital Management Inc. bought a new position in Blink Charging in the second quarter valued at about $33,000. The Manufacturers Life Insurance Company boosted its holdings in Blink Charging by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 37,469 shares of the company’s stock valued at $103,000 after acquiring an additional 16,549 shares during the last quarter. Finally, DRW Securities LLC bought a new position in Blink Charging in the third quarter valued at about $33,000. Institutional investors own 44.64% of the company’s stock.

Analysts Set New Price Targets

BLNK has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating on shares of Blink Charging in a research note on Wednesday. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Blink Charging in a research note on Tuesday, November 12th. Finally, UBS Group lowered Blink Charging from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $3.00 to $2.00 in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blink Charging currently has an average rating of “Moderate Buy” and an average price target of $5.64.

Blink Charging Price Performance

Blink Charging stock remained flat at $1.47 during mid-day trading on Friday. The company’s stock had a trading volume of 3,416,015 shares, compared to its average volume of 4,120,107. The business has a fifty day moving average of $1.57 and a two-hundred day moving average of $2.01. Blink Charging has a 1 year low of $1.38 and a 1 year high of $3.75.

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.