Why Blink Charging Shares Are Falling

Blink Charging Co BLNK shares are trading lower by 8.9% at $22.90 after the company reported worse-than-expected fourth-quarter EPS results.

Blink Charging reported quarterly losses of 45 cents per share which missed the analyst consensus estimate of a loss of 39 cents. Blink Charging also reported quarterly sales of $7.95 million which beat the analyst consensus estimate of $5.43 million by 46%. This is a 224% increase over sales of $2.45 million the same period last year.

"Blink closed 2021 with record fourth quarter and full year revenue, driven by strong product sales and service revenues," commented Michael D. Farkas, Blink's Chairman and Chief Executive Officer.

"We have seen strong momentum throughout the year, which reflects not only the growing market recognition for our EV charging technology, but also the increasing commitment from the business community as well as state and federal entities, to promote the establishment of reliable, convenient EV infrastructure nationwide," Farkas added.

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Blink Charging has a 52-week high of $49.00 and a 52-week low of $17.93.