Shares of the manufacturer of charging stations for electric vehicles Blink Charging added 20%
Shares of the manufacturer of charging stations for electric vehicles, Blink Charging Inc. (BLNK), have risen by almost 20% this week.
Thus, investors reacted to the positive recommendation from Wall Street and the overall favorable background for the company. As a result, on Monday, November 15, changed the guidance on Blink Charging shares from neutral to “buy” and raised the target price to $50.
According to experts, Blink Charging will benefit from positive changes in the United States caused by adopting the bill on investments of $ 1 trillion in infrastructure. Within the framework of this bill, $7.5 billion is to finance companies producing electric vehicles.
However, analysts’ optimism may be somewhat premature since the law involving large-scale investments has not yet. An additional factor in the growth of Blink Charging will be the adoption by the US presidential administration of measures to stimulate the purchase of electric vehicles.
In total, such incentive measures would involve reimbursement from the state of more than $ 12,000 due to tax incentives, discounts on the purchase of electric vehicles and batteries manufactured in the United States, etc. If these benefits are approved, and appropriate funds for them, the number of electric cars in the United States will increase.
Blink Charging produces charging stations for outdoor installation: parking lots of shopping malls, city streets, etc. In addition, the company manufactures equipment and provides several related services, for example, a set of tools for creating online maps indicating the location of charging stations.
Can use such services in geoinformation systems, applications of electric car rental services, delivery, and others. In the USA and the global market, Blink offers services for the construction of charging station networks, to which customers can connect via the cloud, managing energy traffic, tariffs, etc. At the auction on November 17, the BLNK stock adjusted to $44.66.
