Blink Charging (NASDAQ: BLNK) Inks a Deal With Cushman & Wakefield – the Stock Is up Over 20 Percent Today as the Charging Infrastructure Keeps Expanding
Blink Charging (NASDAQ:BLNK), a provider of EV charging services and equipment, continues to rocket higher amid a recent avalanche of new deals and sales channel expansion. Since the 01st of June, Blink Charging shares are up a whopping 609 percent relative to the current price level!
Blink Charging shares have experienced another bullish impulse today as the company inked a deal with the real estate services provider, Cushman & Wakefield (NYSE:CWK). As per the press statement released by the company moments ago, the deal entails “the marketing and potential deployment of Blink charging stations, including its Blink IQ 200 units, and related services to Cushman & Wakefield clients throughout the United States”.
According to Blink Charging, the agreement paves the way for the company to bolster the sales channel for its products and services. Similarly, the Executive Vice President of Enterprise Solutions for Cushman & Wakefield Global Occupier Services, J Glasgow, noted in the press release:
"This agreement puts us and our clients at the forefront of the movement toward more sustainable transportation, and we look forward to working with Blink to effectively address the needs of the growing population of EV drivers."
Bear in mind that the company continues to claim that its IQ 200 units are the fastest level 2 AC charging stations available on the market, with a maximum output of 80 amps and delivering up to 65 miles of charge in an hour.
As of 09:10 a.m. EDT, Blink Charging shares are up nearly 20 percent, trading at $12.55 price level. This bullish impulse speaks volumes of the investor euphoria that currently surrounds this stock.
Of course, this is not the only deal that Blink Charging has inked in recent days. For instance, on the 22nd of July, the company received a grant aimed at facilitating the deployment of “200 Blink Fast Level 2 - 19.2 kW charging stations across the mid-Atlantic region, including locations in Virginia, Maryland, West Virginia and Washington, DC”.
Then, on the 28th of July, Blink Charging and EnerSys inked a deal to jointly develop high-power wireless and enhanced DC fast charging (DCFC) systems with integrated battery storage for the transportation market. The resulting DCFC charging solution with high power energy storage will purportedly feature a modular design and a power output from 100-500 kW. Moreover, it will be “economically priced”.
Finally, on the 30th of July, Blink Charging Hellas – a JV between Blink Charging and Eunice Energy Group – entered into a strategic agreement with Nissan Nik. I. Theocharakis S.A. to promote“the development and promotion of e-mobility in Greece”. The deal envisions an expansion of Blink Charging infrastructure across Greece through cooperation with Nissan dealerships and authorized partners.
We noted recently that the ongoing up thrust in Blink Charging shares coincides with a surge in interest in the stock on the increasingly popular brokerage platform Robinhood. As far as the fundamentals are concerned, the company reported its earnings for Q1 2020 on the 13th of May, recording a revenue of $1.29 million during the quarter and exceeding expectations by $100,000. On an annual basis, Blink managed to increase its quarterly revenue by an impressive 125 percent.