What's Going On With Blink Charging Stock On Friday?

Blink Charging Co. BLNK shares are trading higher on Friday. The company disclosed that it had exceeded 100,000 electric vehicle (EV) chargers sold, deployed, or contracted worldwide.

Blink Charging attributes its achievement to several key factors, including its turnkey model, which streamlines project management from initiation to installation with the help of Blink experts.

The company also prioritizes charger uptime by providing optional preventative maintenance programs, such as Blink Care.

“This landmark is truly a collaborative effort shared among every member of the Blink team, each of our customers, and the demand from the EV community, all of whom share Blink’s vision to enable independence for all through the global electrification of transportation,” said Mike Battaglia, Chief Operating Officer and CEO-Elect at Blink.

This month, the company announced that it will lay off about 14% of its global workforce to reduce operational costs.

Last month, Blink announced that its President & CEO, Brendan Jones, will retire on January 31, 2025, and Michael (Mike) Battaglia will be promoted to President & CEO, effective February 1.

Investors can gain exposure to the stock via WisdomTree Trust WisdomTree Battery Value Chain And Innovation Fund WBAT.

Blink Charging Stock Prediction For 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Blink Charging have an average 1-year price target of $5.12, representing an expected upside of 190.08%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Blink Charging, while 3 analysts have bullish ratings. The street high price target from HC Wainwright & Co. is $8.0, while the street low from Stifel is $3.5.

Price Action: BLNK shares are up 4.41% at $1.76 at the last check Thursday.

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Photo courtesy: Blink Charging