On March 11, Blink Charging Co. (BLNK) rose by 17 % to $41.4. One reason was a new contract for the delivery of charging stations for electric vehicles. The Blink website has gained the trust of investors who believe in its ability to scale.
BLNK stock rose 35.65% over the last week and fell -30.28% over the last month. During the last quarter, shares of the company rose 41.01%. The stock has gained 524.43% over the previous six months, with a year-on-year gain of 1852.83%. Since the beginning of the year, this stock’s price performance is now -3.16%.
Financial results will be determined by financial performance rather than novelty. One of the technologies currently being evaluated by the market is Blink, which was in high demand, yet it is still in its early stages.
Among the news Blink Charging Co. (BLNK) released on Thursday, March 11, was the fact that it has received a government grant for its car charging network expansion. Blink will install 144 fast-charging stations with assistance from a group of US environmental regulators. Hospitals, municipal parking lots, hotels, and other Ohio facilities will be equipped with the devices. The best sites can be acquired by Blink by signing long-term agreements.
Blink Charging Co. (BLNK)’s size makes this project significant. However, its impact on financial performance is unlikely to be substantial. Although Blink has installed over 23 thousand charging stations, it hasn’t been profitable yet: it’s lost $12.8 million in the past year and earned $4.5 million in revenue. It is, therefore, reasonable to expect that the current estimate will be increased very high.