Blink Charging Co (NASDAQ:BLNK) shares are experiencing increased attention Tuesday after the company announced it was selected by an official BYD Co Ltd (OTC:BYDDY) dealership group to provide EV charging services.
What To Know: Grupo Fame, an official dealership for Warren Buffett-backed BYD Co, has chosen Blink to provide EV charging capabilities at select locations.
Blink Level 2 chargers are currently installed in the workshop and showroom at Grupo Fame's dealership in Querétaro. The company said stations in Morelia and Hermosillo are expected to be operational soon. Each location will feature at least one Blink 60kW DC fast charger (DCFC) capable of simultaneously charging two EVs.
"We're excited to be working with Grupo Fame and BYD to bring our cutting-edge charging technology and services to Querétaro, Morelia, and Hermosillo," said Mike Battaglia, COO at Blink Charging.
"Dealerships such as Grupo Fame are the driving force behind the electrification of the auto industry and play a pivotal and dynamic role in driving forward the progress and acceptance of EV technology."
Is BLNK A Good Stock To Buy?
Wall Street analysts view Blink on the whole as a Buy, given the history of coverage over the past three months. Craig Irwin from Roth MKM in Blink Charging is the most bearish, expecting a 52% fall in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Blink Charging rose 5.31%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 73.38% over the past year.
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BLNK Price Action: Blink Charging shares were up 0.64% at $3.15 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Blink.