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Blink (BLNK) Expands Network Access With NACS Incorporation
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Blink Charging (BLNK - Free Report) , a leading global manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, continues to make significant strides in expanding the accessibility and functionality of its charging network.
BLNK recently announced the incorporation of the North America Charging Standard (NACS) and Combined Charging System (CCS) into its entire product line, as well as the successful integration of previously acquired SemaConnect chargers into Blink's global network.
Blink’s engineering team has already demonstrated the swift integration of NACS connectors into its line of Level 2 (L2) chargers, which currently account for approximately 90% of EV charging use in the United States. Blink will begin producing NACS DCFC chargers by October 2023. The new NACS and 1772 dual units are expected to be released in early 2024 from Blink's manufacturing facility in Bowie, MD.
Blink Charging aims to meet the EV charging needs of drivers regardless of their vehicle model by incorporating NACS and CCS connectors into its charging products. This commitment to inclusivity aligns with the industry's aggressive path toward zero-emission vehicle adoption.
The integration of the SemaConnect chargers into Blink's network further enhances its offerings. Blink's cloud-based Blink Network provides an interactive and expandable platform, allowing site hosts to manage chargers, customize charging rates, track energy usage and more. Blink Network supports multiple languages and currencies, offering international management capabilities for site hosts worldwide.
As the demand for EV chargers continues to rise, Blink Charging is well-positioned to cater to the needs of various vehicle types and contribute to the expansion of the EV market. With projections indicating that up to 50% of all new car sales will be electric by 2030, the presence of multiple charging companies like Blink Charging is crucial to meeting the growing demand.
Blink is well-positioned to produce universally accessible EV chargers thanks to its plan for additional manufacturing facilities in the United States. BLNK plans to scale up production to 50,000 EV chargers per year from 10,000 EV chargers currently in production.
Expanding Clientele Bodes Well for Blink
In the trailing 12 months, Blink has contracted, sold, deployed, or acquired more than 38,000 chargers, both domestically and internationally, bringing the total charger count for the company to nearly 73,000 chargers since its inception.
In first-quarter 2023, Blink contracted, sold or deployed 6,461 chargers, up 103% year over year. Moreover, revenues increased 121% year over year to $21.7 million.
Blink’s increasing customer base is also noteworthy. In March, BLNK won an IDIQ contract from the United States Postal Service to provide up to 41,500 EV charging stations and network services, making it one of the largest fleet contracts, chargers, and services in North America.
In the first quarter, Blink announced an agreement to provide chargers to more than 600 different dealerships that span a variety of owners and brands. Another notable customer is the largest parking truck for operators in Belgium called APCOA.
BLNK shares have underperformed both the Zacks Computer & Technology sector and the Zacks Electronics Miscellaneous Services industry year to date. While Blink Charging has lost 48.1%, the sector has returned 35.3%. The industry has lost 13.9% in the said time frame.
Zacks Rank & Stocks to Consider
Blink Charging currently has a Zacks Rank #3 (Hold).
Shares of NVIDIA and PANW are up 181.4% and 81.6%, respectively, on a year-to-date basis. However, BL shares have declined 19.6% over the same timeframe.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Blink (BLNK) Expands Network Access With NACS Incorporation
Blink Charging (BLNK - Free Report) , a leading global manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, continues to make significant strides in expanding the accessibility and functionality of its charging network.
BLNK recently announced the incorporation of the North America Charging Standard (NACS) and Combined Charging System (CCS) into its entire product line, as well as the successful integration of previously acquired SemaConnect chargers into Blink's global network.
Blink’s engineering team has already demonstrated the swift integration of NACS connectors into its line of Level 2 (L2) chargers, which currently account for approximately 90% of EV charging use in the United States. Blink will begin producing NACS DCFC chargers by October 2023. The new NACS and 1772 dual units are expected to be released in early 2024 from Blink's manufacturing facility in Bowie, MD.
Blink Charging aims to meet the EV charging needs of drivers regardless of their vehicle model by incorporating NACS and CCS connectors into its charging products. This commitment to inclusivity aligns with the industry's aggressive path toward zero-emission vehicle adoption.
The integration of the SemaConnect chargers into Blink's network further enhances its offerings. Blink's cloud-based Blink Network provides an interactive and expandable platform, allowing site hosts to manage chargers, customize charging rates, track energy usage and more. Blink Network supports multiple languages and currencies, offering international management capabilities for site hosts worldwide.
As the demand for EV chargers continues to rise, Blink Charging is well-positioned to cater to the needs of various vehicle types and contribute to the expansion of the EV market. With projections indicating that up to 50% of all new car sales will be electric by 2030, the presence of multiple charging companies like Blink Charging is crucial to meeting the growing demand.
Blink Charging Co. Price and Consensus
Blink Charging Co. price-consensus-chart | Blink Charging Co. Quote
Blink is well-positioned to produce universally accessible EV chargers thanks to its plan for additional manufacturing facilities in the United States. BLNK plans to scale up production to 50,000 EV chargers per year from 10,000 EV chargers currently in production.
Expanding Clientele Bodes Well for Blink
In the trailing 12 months, Blink has contracted, sold, deployed, or acquired more than 38,000 chargers, both domestically and internationally, bringing the total charger count for the company to nearly 73,000 chargers since its inception.
In first-quarter 2023, Blink contracted, sold or deployed 6,461 chargers, up 103% year over year. Moreover, revenues increased 121% year over year to $21.7 million.
Blink’s increasing customer base is also noteworthy. In March, BLNK won an IDIQ contract from the United States Postal Service to provide up to 41,500 EV charging stations and network services, making it one of the largest fleet contracts, chargers, and services in North America.
In the first quarter, Blink announced an agreement to provide chargers to more than 600 different dealerships that span a variety of owners and brands. Another notable customer is the largest parking truck for operators in Belgium called APCOA.
BLNK shares have underperformed both the Zacks Computer & Technology sector and the Zacks Electronics Miscellaneous Services industry year to date. While Blink Charging has lost 48.1%, the sector has returned 35.3%. The industry has lost 13.9% in the said time frame.
Zacks Rank & Stocks to Consider
Blink Charging currently has a Zacks Rank #3 (Hold).
NVIDIA (NVDA - Free Report) , Palo Alto Networks (PANW - Free Report) and BlackLine (BL - Free Report) are better-ranked stocks in the broader sector. All three sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of NVIDIA and PANW are up 181.4% and 81.6%, respectively, on a year-to-date basis. However, BL shares have declined 19.6% over the same timeframe.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.