The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Blink Charging Co. shares valued at $1,552,684 were sold by FARKAS MICHAEL D on Feb 16. At $10.81 per share, FARKAS MICHAEL D sold 143,634 shares. The insider’s holdings dropped to 1,884,433 shares worth approximately $16.81 million following the completion of this transaction.
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Also, LEVINE JACK purchased 10,000 shares, netting a total of over 102,200 in proceeds. Following the buying of shares at $10.22 each, the insider now holds 131,641 shares.
Before that, Hillo Aviv had sold 10,000 shares from its account. In a trade valued at $184,500, the General Counsel traded Blink Charging Co. shares for $18.45 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $0.94 million.
Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in mid October. As of June 17, 2022, B. Riley Securities has initiated its “Neutral” rating for BLNK. Earlier on April 21, 2022, Tudor Pickering Holt & Co. initiated its rating. Their recommendation was “a Hold” for BLNK stock.
Analyzing BLNK Stock Performance
On Thursday, Blink Charging Co. [NASDAQ: BLNK] plunged -2.19% to $8.92. The stock’s lowest price that day was $8.38, but it reached a high of $8.93 in the same session. During the last five days, there has been a drop of approximately -10.44%. Over the course of the year, Blink Charging Co. shares have dropped approximately -18.69%. Shares of the company reached a 52-week high of $15.40 on 02/02/23 and a 52-week low of $8.38 on 03/02/23. A 50-day SMA is recorded $11.71, while a 200-day SMA reached $15.87. Nevertheless, trading volume fell to 4.22 million shares from 2.98 million shares the previous day.
Support And Resistance Levels for Blink Charging Co. (BLNK)
According to the 24-hour chart, there is a support level at 8.56, which, if violated, would cause prices to drop to 8.19. In the upper region, resistance lies at 9.11. The next price resistance is at 9.29. RSI (Relative Strength Index) is 31.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.82, which suggests the price will decrease in the coming days. Percent R is at 81.69%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Blink Charging Co. subject to short interest?
Stocks of Blink Charging Co. saw a sharp steep in short interest on Jan 30, 2023 dropping by -1.43 million shares to 11.62 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 13.05 million shares. A decline of -12.31% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 10.39 of the overall float, the days-to-cover ratio (short ratio) decline to 10.39.
Which companies own the most shares of Blink Charging Co. (BLNK)?
According to BlackRock Fund Advisors filings, the company currently owns 2,543,548 shares, which is about 5.00% of the total BLNK shares outstanding. The investor’s shares have appreciated by 273,274 from its previous 13-F filing of 2270274.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $28,478,081. SSgA Funds Management, Inc. acquire a 21.19% interest valued at $17.69 million while Credit Suisse International purchased a 1,044,675 stake. A total of 160,411 shares of Blink Charging Co. were bought by Invesco Capital Management LLC during the quarter, and 2,104 were bought by Irish Life Investment Managers Lt. In its current portfolio, Canada Life Investment Management holds 850,457 shares valued at $11.57 million.
In terms of Blink Charging Co. share price expectations, FactSet research, analysts set an average price target of $21.57 in the next 12 months, up nearly 53.51% from the previous closing price of $9.12. Analysts anticipate Blink Charging Co. stock to reach $50.00 by 2023, with the lowest price target being $11.00. On February 22, 2022, Needham assigned a price target of “a Buy” to the stock and reiterated coverage with a $29.