BLINK CHARGING plunges to new 52-week low after analyst downgrade

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BLINK CHARGING ($NASDAQ:BLNK) Co. hit a new 52-week low of $2.40 on Thursday morning. BLINK CHARGING is a provider of electric vehicle charging equipment and services. The company offers a range of EV charging products and services for residential, commercial, and fleet customers.

The latest sell-off was triggered by an analyst downgrade. Roth Capital analyst Philip Shen lowered his rating on the stock to “sell” from “neutral,” citing concerns about the company’s competitive position and growth prospects.

Stock Price

On Monday, BLINK CHARGING stock opened at $13.6 and closed at $13.3, down by 2.4% from last closing price of 13.6. So far, news coverage has been mostly negative. The downgrade came from Roth Capital, which lowered its rating on BLINK CHARGING from “neutral” to “sell.” Roth Capital analyst Craig Irwin cited concerns about the company’s “unsustainable” business model and lack of profitability. BLINK CHARGING has been struggling to turn a profit, and Irwin believes that the company’s current business model is not sustainable.

This analyst downgrade is just the latest piece of bad news for BLINK CHARGING. The company has been facing various challenges, and its stock price has been under pressure as a result. It remains to be seen if BLINK CHARGING can turn things around and regain investor confidence.

VI Analysis

Blink Charging is a high risk investment based on its financial and business aspects. The company’s fundamentals reflect its long term potential, but the company has 4 risk warnings in its income sheet, balance sheet, cashflow statement, and financial journal. Registering on VI App can help you learn more about these risks.

VI Peers

The electric vehicle (EV) charging market is currently dominated by Blink Charging Co, but it faces stiff competition from Yurtec Corp, Daisan Co Ltd, and Tokyo Energy & Systems Inc. All four companies are vying for a share of the EV charging market, which is expected to grow exponentially in the coming years.

– Yurtec Corp ($TSE:1934)

Yurtec is one of the world’s largest manufacturers of construction materials, with a focus on concrete and steel. The company has a market cap of 50.63B as of 2022 and a Return on Equity of 5.38%. Yurtec is a publicly traded company on the Tokyo Stock Exchange and is headquartered in Tokyo, Japan.

– Daisan Co Ltd ($TSE:4750)

Daisan Co Ltd is a Japanese company that manufactures and sells electronic and electrical products. It has a market cap of 3.97B as of 2022 and a ROE of 1.65%. The company was founded in 1949 and is headquartered in Osaka, Japan.

– Tokyo Energy & Systems Inc ($TSE:1945)

Tokyo Energy & Systems Inc. is a Japanese company that manufactures and sells electric power generation systems, industrial machinery, and other products. The company has a market capitalization of 31.91 billion as of 2022 and a return on equity of 2.58%. Tokyo Energy & Systems is a leading manufacturer of electric power generation systems in Japan and has a strong presence in the global market. The company’s products are used in a wide range of industries, including power generation, manufacturing, construction, and transportation.

Summary

There are a few things to consider before investing in BLINK CHARGING. Firstly, the company has been facing some headwinds recently, with a52-week low and negative news coverage. Secondly, the electric vehicle market is still relatively new and uncertain.

This means that there is potential for growth, but also more risk involved. Finally, it is important to research the company thoroughly and understand its financials before investing.