Electric vehicle charging stock Blink Charging (NASDAQ:BLNK) rebounded from its 52-week low thanks to a shift in guidance. As a result, shares are up over 4% in Tuesday afternoon’s trading.
Blink’s revised guidance defintiely gave the stock a boost today. Now, 2023’s revenue is expected to come in between $110 million and $120 million, which is up incrementally from its original projection of between $100 million and $110 million. Analyst estimates, meanwhile, were at $116.2 million, meaning that the consensus view is now within the projected range. Blink Charging upgraded its projections after some exciting news: it landed a new deal with Parkopedia to add the Blink charging locations to its platform. That will make Blink Charging platforms easier to find and use, thus giving Blink’s revenue a hand up.
This is just the latest move that Blink has made in the field; just days ago, it set up a deal with Moberly Motors, which put Blink chargers at the dealership locations. It also set up a new deal with Royal Farms, a regional chain specializing in gas stations that serve fried chicken, among other things. Now, customers can access quick meals while charging their cars, which has long been regarded as a worthwhile play at regular gas stations.
Is Blink Charging Stock a Good Buy Right Now?
Meanwhile, a look at the last five days in trading for Blink Charging stock shows a deeply erratic pattern. A fall segued into a plateau followed by a vertical plunge. That fall started a rally before seguing into a downward pattern, and then another recovery. And that’s just over five days!
