BLNK - Blink Charging: Disappointing Outlook

2024-03-20 14:57:13 ET

Summary

• Blink Charging Co. fails to impress with 2024 targets, highlighting struggles in the EV charging station sector.
• The company has limited service revenues and a reliance on volatile product revenue, with limited gross margins hindering growth.
• The stock isn't appealing with the constant share dilution and lack of revenue growth going forward.

Just as the market was buying into the turnaround story for Blink Charging Co. ( BLNK ), the EV charging station company failed to impress with 2024 targets. The whole sector has struggled to make the business models work and Blink Charging reinforced this issue again. My investment thesis remains Neutral on the stock, with the previous shift in the business not strong enough to warrant a Buy rating....

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