What's Going On With Blink Charging Co Stock?
Portfolio Pulse from Erica Kollmann
Blink Charging Co. (NASDAQ:BLNK) stock is trading higher after reporting Q3 financial results that exceeded analyst expectations. The company posted a loss of 16 cents per share, surpassing the estimated loss of 41 cents, and revenue of $43.337 million, beating the $30.388 million estimate by 42.74% and marking a 152% increase year-over-year. Blink Charging raised its full year 2023 revenue target to $128-$133 million, above the $116.63 million estimate. The stock is experiencing high trading volume with over 13 million shares traded, against a 100-day average of 2.183 million shares. BLNK is trending on Yahoo Finance and has a high short interest of 31.67%.
November 10, 2023 | 4:35 pm
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POSITIVE IMPACT
Blink Charging Co. reported strong Q3 earnings with significant revenue growth and an increased revenue forecast for 2023, leading to a surge in stock price and trading volume.
The positive earnings report and raised revenue forecast for 2023 are strong indicators of the company's performance and future prospects, which typically result in increased investor confidence and a rise in stock price. The high trading volume and attention from both retail investors and short-sellers suggest that the stock will be actively traded in the short term, potentially maintaining the upward price momentum.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100