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Blink Charging (BLNK) Surges 17.8%: Is This an Indication of Further Gains?

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Blink Charging (BLNK - Free Report) shares ended the last trading session 17.8% higher at $21.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.9% gain over the past four weeks.

The recent surge in Blink’s share price comes after the company announced that it is continuing deployment of Blink EV chargers for electric school bus fleets.

The Biden administration has recently committed $5 billion to the production of environmentally cleaner school buses with the recent passage of the Infrastructure Investment and Jobs Act (IIJA) which bodes well for Blink’s topline growth.

This company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of -12.5%. Revenues are expected to be $8.79 million, up 101.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Blink Charging, the consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BLNK going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Blink Charging is a member of the Zacks Electronics - Miscellaneous Services industry. One other stock in the same industry, Jack Henry (JKHY - Free Report) , finished the last trading session 1.8% higher at $206.31. JKHY has returned 11.3% over the past month.

For Jack Henry, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1. This represents a change of -3.9% from what the company reported a year ago. Jack Henry currently has a Zacks Rank of #3 (Hold).

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