Blink Charging Co. Stock Surges 20% in 2025 After Securing $X Million Grant for Mid-Atlantic EV Stations

Blink Charging Co. (BLNK) experienced a remarkable surge of over 20% in its stock price following the announcement of a substantial new grant aimed at deploying 200 Blink Fast Level 2 electric vehicle (EV) charging stations throughout the Mid-Atlantic region, including Virginia, Maryland, West Virginia, and Washington D.C. This strategic three-year initiative is set to commence in October, focusing on identifying optimal locations to encourage widespread EV adoption.

In the previous quarter, Blink Charging reported a 125% increase in revenue, reaching $1.29 million and outperforming consensus estimates by $100,000. Despite a GAAP earnings per share (EPS) loss of 11 cents, slightly missing estimates by two cents, the company continues to expand its footprint by securing contracts with municipalities like Portland and private enterprises such as Envoy Technologies.

The stock’s upward momentum aligns with a broader rally in the electric vehicle sector, where companies like Tesla, Nikola, and NIO have also seen gains. This trend is supported by ambitious governmental targets, including China’s goal to have 25% of auto sales be electric by 2025, a significant increase from the current 5%.

Technically, Blink Charging’s stock approached its previous high of $8.50 during Wednesday’s trading session. The relative strength index (RSI) climbed to 66.3, nearing overbought territory, while the moving average convergence divergence (MACD) indicates a potential bullish crossover soon. These signals suggest a phase of consolidation might precede further upward movement.

Investors should monitor the stock’s behavior around the $8.50 resistance level. A pullback could find support near Fibonacci retracement levels at $6.17 or previous lows around $5.00. Conversely, a breakout above $8.50 could propel the stock to new all-time highs, offering promising opportunities for growth-oriented traders.

Note: The author does not hold any positions in Blink Charging Co. stocks outside of passively managed index funds.

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