BLNK Stock Price: Blink Charging Company gives up some of its huge gains

• Nasdaq: BLNK drops 15% on Tuesday but still up 39.5% for the week. 
• Blink Charging company positioned for EV future. 

After a huge 59% jump on Monday, following Michael D. Farkas CEO of Blink Charging Company’s appearance of Fox Business, the stock gave back 15% of the gains on Tuesday. The close was not only at the 52-week high but also the record high for Nasdaq: BLNK.  

Blink Charging Company’s CEO has made many positive announcements for the company recently. Tuesday’s biggest insight was that the company was working on a “touchless charging system” after stating that “there are 11,000 more germs on a gas pump than on a toilet.” This was after also affirming that Blink Charging Company is still growing during the COVID-19 crisis.  

Nasdaq: BLNK has already deployed 23,000 charging stations which include both portable and mobile stations directed at the service industry. They see their charging systems mostly used in an urban environment and with better battery technology drivers will only have to charge an EV once a week. No matter which battery technology and which auto company wins the EV war, Nasdaq: BLNK is in a good position to provide the juice they will need.  

Blink Charging Company was very pleased with Apple adding a new feature to their Apple Maps App in late June which shows Electric Vehicle Charge Routing Capabilities which will include routing to Blink Charging Company’s charging stations. 

Nasdaq: BLNK loses some gains

Nasdaq: BLNK opened with profit-taking at $6.95, below its previous day’s close of $8.40/share.  Most of the day was spent around the $7.25/share mark, with a brief bull run that brought Blink back up to 7.82/share, only to drop back down to the close of $7.095/share. Blink Charging Company is up more than 275% year to date from its January  $1.88/share price. 

Currently, 15 of 17 moving average indicators show Nasdaq: BLNK as a “Buy” with one “Neutral”(Ichimoku Cloud Base Line) and one new “Sell” for the day “Sell”(Hull Moving Average yesterday was a “Buy”). The 11 Oscillators have changed to Majority “Buy” from yesterday’s hold of, two “Sell” seven “Neutral/Hold” and two “Buy”, to today’s one “Sell” one “Neutral/Hold” and three “Buy”.

There is only one analyst that is covering Blink Charging Company and they currently have the stock as a “Buy” with a target price of $5 (it is well above this price level now) with expected earnings per share (EPS) of -0.10. This rating has not changed since their last review.