This Blink Charging Analyst Is All Charged Up: 'Revamped Leadership Shows Improved Execution'

Shares of Blink Charging Co BLNK jumped in early trading on Monday, Jan. 8.

The Miami-based company is poised to benefit from charger growth, driven by growth in EVSE (electric vehicle supply equipment), according to Needham.

The Blink Charging Analyst: Chris Pierce upgraded the rating for Blink Charging from Hold to Buy, while establishing a price target of $7.

See Also: Which Countries Most Eager For Bitcoin ETF? 11 Nations Surpass US Enthusiasm

The Blink Charging Thesis: While EVSE stocks have weakened due to a worsened sentiment for EV adoption, EV charger installations lag EV adoption, Pierce said in the upgrade note.

Check out other analyst stock ratings.

“BLNK's revamped leadership team has shown improved execution and crisper investor communication and benefits from low expectations offsetting telegraphed dilution, with a $100M raise in 1H24 marking BLNK’s last capital raise in our model,” he wrote.

“Our confidence in BLNK's revenue trajectory increases when looking at the company's positive momentum,” the analyst stated, while adding that Blink Charging’s vertical integration is driving its “industry-leading gross margin.”

BLNK Price Action: Shares of Blink Charging had risen by 8.51% to $3.06 at the time of publication Monday.

Now Read: These Developed Markets Outside US Are Getting Bullish - Here's What VEA ETF Technical Chart Shows