DRW Securities LLC Invests $33,000 in Blink Charging Co. (NASDAQ:BLNK)

DRW Securities LLC acquired a new stake in Blink Charging Co. (NASDAQ:BLNK) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 19,200 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors have also added to or reduced their stakes in BLNK. Swedbank AB increased its stake in shares of Blink Charging by 57.0% in the third quarter. Swedbank AB now owns 225,516 shares of the company’s stock worth $388,000 after purchasing an additional 81,894 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Blink Charging by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 819,108 shares of the company’s stock valued at $1,409,000 after acquiring an additional 79,969 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Blink Charging during the third quarter worth $52,000. United Advisor Group LLC bought a new position in shares of Blink Charging in the third quarter worth $34,000. Finally, SG Americas Securities LLC purchased a new position in shares of Blink Charging in the third quarter valued at $122,000. 44.64% of the stock is owned by hedge funds and other institutional investors.

Blink Charging Stock Performance

NASDAQ BLNK opened at $1.56 on Thursday. Blink Charging Co. has a 52-week low of $1.48 and a 52-week high of $4.48. The company has a fifty day moving average of $1.85 and a 200-day moving average of $2.41. The company has a market capitalization of $157.83 million, a P/E ratio of -1.03 and a beta of 2.65.

Insiders Place Their Bets

In other news, Director Kristina A. Peterson sold 24,077 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $1.80, for a total value of $43,338.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack Levine bought 20,000 shares of Blink Charging stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $34,000.00. Following the acquisition, the director now owns 175,718 shares in the company, valued at $298,720.60. The trade was a 12.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

BLNK has been the subject of several analyst reports. 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. UBS Group cut shares of Blink Charging from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.00 to $2.00 in a research note on Thursday, November 14th. Stifel Nicolaus decreased their target price on shares of Blink Charging from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, August 12th. HC Wainwright reduced their price target on shares of Blink Charging from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC downgraded Blink Charging from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.64.

About Blink Charging

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.