BLNK - Blink Charging: Market Weakness Dilutes Performance Upside
2024-05-26 14:42:24 ET
Summary
- Blink Charging's stock price has been softening in recent months, in line with the lacklustre performance of the EV sector.
- Its revenue growth forecasts for 2024 aren't encouraging either, though guidance can be upgraded after Q1's performance, its own business developments and past history of upgrades.
- The company's improved gross margins and shrinking adjusted EBITDA loss also work in its favour.
- However, the market multiples are unconvincing at a time when the EV market is softening in the US, making it a wait-and-watch situation.
Since I last wrote about the EV charging solutions provider Blink Charging ( NASDAQ:BLNK ) in November last year, its price is down by ~28%. This compares poorly with even the S&P Kensho Electric Vehicles index, which has barely moved over this time in any case....
Blink Charging: Market Weakness Dilutes Performance Upside