June 22, 2024


It's the Technology

Blink Charging (BLNK) Gains As Market Dips: What You Should Know

In the latest trading session, Blink Charging (BLNK) closed at $8.04, marking a +0.5% move from the previous day. The stock outpaced the S&P 500’s daily loss of 0.3%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.64%.

Prior to today’s trading, shares of the company had lost 12.47% over the past month. This has lagged the Computer and Technology sector’s gain of 4.11% and the S&P 500’s gain of 3.25% in that time.

Wall Street will be looking for positivity from BLNK as it approaches its next earnings report date. On that day, BLNK is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.26 million, up 197.37% from the year-ago period.

BLNK’s full-year Zacks Consensus Estimates are calling for earnings of -$0.38 per share and revenue of $8.75 million. These results would represent year-over-year changes of -2.7% and +217.26%, respectively.

Investors might also notice recent changes to analyst estimates for BLNK. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BLNK is holding a Zacks Rank of #3 (Hold) right now.

The Electronics – Miscellaneous Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 246, which puts it in the bottom 3% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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