Ken Griffin’s Citadel Boosts Blink Charging Shares by 4% in Extended Trading
December 17, 2023
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Blink Charging ($NASDAQ:BLNK) Co. is a leader in electric vehicle (EV) charging station technology, supplying charging services and equipment to a variety of customers across the United States. On Thursday, shares of Blink Charging rose by +4% in extended trading after Ken Griffin’s Citadel revealed a passive investment in the company. The news of Citadel’s investment sent the stock higher, with investors seeing it as a vote of confidence for Blink Charging’s ongoing success.
Given the company’s strong fundamentals and growing demand for EV charging solutions, it appears that Blink Charging is well positioned to continue its growth trajectory for the foreseeable future. Ken Griffin’s investment in the company only serves to solidify this view.
Analysis
At GoodWhale, we have taken a close look at BLINK CHARGING’s fundamentals to form our opinion. Our research has led us to classify the company as “cheetah,” meaning that it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are interested in this type of company should be comforted by the fact that BLINK CHARGING is strong in asset and growth, yet weak in dividend and profitability. In terms of financial health, BLINK CHARGING has an intermediate score of 4/10 due to its cash flows and debt. This allows us to conclude that the company will likely be able to ride out any crisis without risk of bankruptcy. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Blink Charging. More…
| Total Revenues | Net Income | Net Margin |
| 120.2 | -212.15 | -115.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Blink Charging. More…
| Operations | Investing | Financing |
| -101.75 | -15.67 | 128.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Blink Charging. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 365.6 | 145.93 | 3.27 |
Key Ratios Snapshot
Some of the financial key ratios for Blink Charging are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 199.8% | – | -172.5% |
| FCF Margin | ROE | ROA |
| -93.2% | -48.0% | -35.4% |
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
Blink Charging Co. (NASDAQ: BLNK) has seen share prices surge +4% in after-hours trading following news that Ken Griffin’s Citadel LLC has disclosed a passive stake in the electric vehicle charging services company. Analysts believe that this news indicates that Blink Charging is a smart investment for its growth potential in the EV market, and the increased interest from institutional investors could drive even further gains. Although the company has recently seen falling revenues, their recent partnerships with major automakers and other companies suggests that they are well positioned to capitalize on the growth of electric vehicles.
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