Electric vehicle charging technology provider Blink Charging (NASDAQ:BLNK) announced today that it won a contract that will make it one of the official EV charging providers for the state of New York. The contract allows Blink to deploy both Level 2 and DC fast chargers across the state. The company will also provide comprehensive services such as site assessments, installation, and ongoing maintenance.
Jim Nemec, Chief Revenue Officer at Blink Charging, is enthusiastic about the deal and highlighted the strategic importance of the collaboration in order to build an eco-friendly transport ecosystem and improve the overall experience for EV users in New York.
Investor Sentiment for BLNK Stock Is Currently Very Negative
The sentiment among TipRanks investors is currently Very Negative. Out of the 560,536 portfolios tracked by TipRanks, 1% hold BLNK stock. In addition, the average portfolio weighting allocated towards BLNK among those who do have a position is 5.19%. This suggests that investors in the company are fairly confident about its future.
However, in the last 30 days, 5.3% of those holding the stock decreased their positions. As a result, the stock’s sentiment is below the sector average, as demonstrated in the following image:
What Is the Target Price for BLNK Stock?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BLNK stock based on three Buys, three Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 55% decline in its share price over the past year, the average BLNK price target of $7.50 per share implies 128.66% upside potential.
