Blink Charging Co.(NASDAQ: $BLNK) operates as a manufacturer, proprietor, operator, and supplier of electric vehicle (EV) charging equipment and networked EV charging services, serving both the United States and international EV markets.
The company delivers residential and commercial EV charging solutions, facilitating recharging for EV drivers at various locations. Key components of its product and service offerings encompass the Blink EV charging network (Blink Network), EV charging equipment, EV charging services, as well as SemaConnect, Blue Corner, and BlueLA.
The Blink Network utilizes cloud-based software to oversee, maintain, and monitor EV charging stations linked to the network along with associated charging data.
This network serves property owners, managers, parking companies, state and municipal entities, and other commercial clients by providing cloud-based services for the remote monitoring and management of EV charging stations. Ultimately, the Blink Networks cater to the needs of EV drivers.
Blink Charging Co Price Today
On the morning of Monday, November 13, 2023, shares of Blink Charging Co Registered Shs commenced trading at $3.03. This represents a decrease of 1.30% from the closing price on NASDAQ on Friday, November 10, 2023, which was $3.07. With 67.26 million shares outstanding, $BLNK. is currently valued at $206.20 million.
Blink Charging shares surge on raised revenue forecast and Q3 results
Blink Charging (NASDAQ: BLNK) has taken a noteworthy turn as it revises its 2023 revenue outlook upward following a robust third-quarter performance marked by substantial year-over-year growth.
In response to this positive development, $BLNK’s shares on NASDAQ surged by 27% to $3.13, with trading volumes significantly exceeding the 65-day average.
While reporting a third-quarter loss per share of $1.74, the electric vehicle charging company highlighted a significant increase in revenues, reaching $43.3 million compared to the same period last year.
This surge has propelled the company’s nine-month earnings to $98 million, already surpassing its full-year 2022 revenue of $61.1 million.
Bolstered by these results, $BLNK has elevated its revenue expectations for the year, anticipating a range between $128 million and $133 million.
This represents a considerable increase from the previously estimated range of $110 million to $120 million.
The positive financial momentum was evident in Friday’s market activity, with investors rallying behind Blink Charging, expressing confidence in the company’s growth trajectory and its ability to capitalize on the expanding electric vehicle market.
In light of these recent developments, additional insights from InvestingPro data and tips shed further light on Blink Charging’s financial health and future prospects. With a market cap of $214.56M and a trailing P/E ratio of -1.41, the market appears to be pricing in future growth.
Despite a negative earnings per share trend, analysts anticipate sales growth in the current year, aligning with the company’s upgraded revenue expectations.
InvestingPro Tips also highlight Blink Charging’s positive financial stability, holding more cash than debt on its balance sheet.
However, the company is noted for quickly burning through cash, a factor that could impact its future operations if not managed effectively.
On the valuation front, Blink Charging is trading at a low Price/Book multiple of 0.52 as of Q2 2023, suggesting the stock may be undervalued.
In the broader market context, the stock has experienced significant price movements over the last six months, with Blink Charging’s stock price standing at only 15.95% of its 52-week high, indicating potential room for growth.
$BLNK Earnings Beat by $0.31 as Revenue Topped Estimates
Blink Charging (NASDAQ: BLNK) posted a third-quarter EPS of $-0.16, surpassing the analyst projection of $-0.47 by $0.31. The revenue for the quarter exceeded expectations, reaching $43.38 million compared to the consensus estimate of $29.87 million.
Closing at $2.46, Blink Charging’s stock price has experienced a decline of -58.31% in the last 3 months and a notable decrease of -81.82% over the past 12 months.
In the last 90 days, Blink Charging witnessed 1 positive EPS revision and 1 negative EPS revision. For further insights into the stock price’s historical reactions to earnings, refer to Blink Charging’s past performance. As per InvestingPro, Blink Charging’s Financial Health score indicates “fair performance.”
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