Blink Charging Co. (BLNK) shares surged 5.10% in after-hours on Thursday, November 11, 2021, and closed at $37.32. Even in the regular trading session, BLNK’s stock gained 8.16%. BLNK shares have risen 247.80% over the last 12 months, and they have moved up 11.04% in the past week. Over the past three months, the stock has gained 9.26%, while over the past six months, it has jumped 18.56%.
Let’s have a look at its recent news and development.
BLNK latest developments
On November 11, 2021, Blink Charging Co. (BLNK) released its financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- BLNK reported total revenue of $6.4 million in Q3 2021 compared to $0.9 million in Q3 2020.
- The total cost of revenue was $5.5 million in Q3 2021 compared to $0.54 million in Q3 2020.
- Total operating expenses were $16.7 million in Q3 2021 compared to $4.3 million in the same period in 2020.
- It suffered a net loss of $15.3 million, or $0.36 per share in Q3 2021, compared to a net loss of $3.9 million, or $0.12 per share in the third quarter of 2020.
- Adjusted EBITDA was negative $8.4 million in Q3 2021 compared to negative Adjusted EBITDA of $3.7 million in the prior-year period.
- The company ended the quarter with $186.7 million of Cash and Marketable Securities.
BLNK welcome the historic bipartisan infrastructure bill
On November 08, 2021, Blink Charging Co. (BLNK, BLNKW) announced to support the historic bipartisan infrastructure bill and applauds the Biden Administration and congressional lawmakers who are taking an important step to improve our nation’s infrastructure and accelerating the adoption of electric vehicles.
BLNK received grants from EGLE
On November 03, 2021, Blink Charging Co. (BLNK, BLNKW) was awarded a grant from Michigan Consumers Energy and an additional grant from the Michigan Department of Environment, Great Lakes, and Energy (EGLE) for the installation of DC fast-charging stations across the state of Michigan. The six DC fast chargers were installed at two separate locations in Traverse City and Clare, Michigan.
BLNK products update
On October 07, 2021, Blink Charging Co. (BLNK, BLNKW) sold 64 Blink’s residential Level 2 residential charging stations, the HQ 150, to Rudy’s Performance Parts for resale across its distribution channels.
BLNK Subsidiary Car Sharing Program
On October 05, 2021, Blink Mobility which is a wholly-owned subsidiary of Blink Charging Co. (BLNK, BLNKW) expanded its BlueLA electric car-sharing program serving Los Angeles. Blink will add 300 street side EV charging stations at an anticipated 60 destinations across the city and a progressive increase in the Program’s electric vehicle fleet, based on utilization rates.
Conclusion
The BLNK stock performed well on Thursday after it announced its Q3 2021 results. We can see it continue its performance on Friday as well.
