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Blink Charging Adds One Key Risk Factor
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Blink Charging Adds One Key Risk Factor

Shares of electric vehicle (EV) charging equipment and services provider Blink Charging Co. (BLNK) have surged as much as 228% over the past 12 months. The company recently reported record Q3 performance with it top-line exceeding analysts’ expectations.

Let us look at the changes in Blink’s key risk factors that investors should know.

Risk Factors

According to the TipRanks Risk Factors tool, Blink’s top risk category is Finance & Corporate, accounting for 48% of the total 27 risks identified. In its recent Q3 report, the company added one key risk factor under the Macro & Political risk category.

Blink highlighted the volatility and uncertainty induced by the COVID-19 pandemic on its business, which includes evolving factors such as duration and scope of COVID-19, government and business response, the impact of the business disruptions on employment levels, and the consequent impact on demand for EV charging equipment and services.

Additionally, the current disruption in the supply of computer chips and raw materials is a key factor to keep a keen eye on the company. (See Insiders’ Hot Stocks on TipRanks)

Against a sector average of 11%, Blink’s Macro & Political risk factor is at 7%.

Wall Street’s Take

On November 12, Needham analyst Vikram Bagri reiterated a Buy rating on the stock and increased the price target to $41 from $32.

Bagri noted that the company notched a strong gross margin during the quarter but missed out on its bottom line as higher headcount additions raised operating expenses.

Bagri added that Blink stands to gain from the Infrastructure bill as the company has consistently won government business in 2021. The company’s existing relationships, experienced team, quality products, and flexible strategy position it favorably to win its share of spending in the bill starting next year.  

Consensus on the Street is a Moderate Buy based on 3 Buys and 2 Holds. The average Blink Charging price target of $37.40 implies downside potential of 6.52%.

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