What's Going On With Blink Charging Stock?

Blink Charging Co. BLNK shares are trading lower Monday, and the stock is down more than 11% over the past five days. 

What To Know:

Last week, Blink announced it has achieved the “In Process” designation granted by the Federal Risk and Authorization Management Program (FedRAMP) for its EV charging solutions. Blink expects to reach full FedRAMP compliance status before the end of the third quarter of 2024. 

"At Blink, we understand the importance of providing reliable and advanced cloud-based EV charging stations across government agencies and we are excited to reach this significant milestone in the FedRAMP process,” stated Brendan Jones, CEO at Blink Charging. 

“We look forward to becoming FedRAMP authorized and continuing to collaborate with federal government agencies as a leader in the U.S. fleet electrification strategy.”

According to data from Benzinga Pro, Blink Charging shares are trading about even with the stock's 50-day moving average of $2.87 and 20.19% of available shares are being sold short. 

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Will BLNK Stock Go Up?

When trying to assess whether or not Blink Charging will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $5.12 on Blink Charging. The Street high target is currently at $7 and the Street low target is $4. Of all the analysts covering Blink Charging, 3 have positive ratings, one has a neutral rating and no one has negative ratings.

In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Blink Charging have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Blink Charging is 54.93% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Blink Charging, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

BLNK Price Action: According to Benzinga Pro, Blink Charging shares are down 5.1% at $2.88 at the time of publication Monday.

Image: Courtesy of Blink Charging Co.