What's Going On With Blink Charging Stock?

Blink Charging Co. BLNK shares are trading higher Tuesday on continued upward momentum. The stock has gained nearly 25% over the past five days.

What To Know:

In early December, Ken Griffin's hedge fund, Citadel, reported a 0.4% stake in Blink Charging.

Blink also announced it had been selected as a full-service EV infrastructure provider for Mack Trucks through Mack's Vendor Direct Ship and Turnkey Solutions program at the end of November, which could be helping fuel some of the recent price action. 

Blink shares may also be getting a boost from increased retail investor interest as traders point to high short interest in the name. The stock was one of the top trending tickers on Yahoo Finance at last check. 31.07% of the float is currently sold short, according to data from Benzinga Pro.

Blink shares are also moving on heavy trading volume Tuesday with more than 20 million shares already traded in Tuesday's session. According to data from Benzinga Pro, the stock's 100-day average volume is less than 4.4 million shares.

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BLNK Price Action: According to Benzinga Pro, Blink Charging shares were up 13.9% at $4.09 at the time of publication.

Image: stormautomobile from Pixabay