BLNK Stock Price Jumps to 52 Week High on Deal With Envoy Technologies

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Blink Charging (BLNK) has moved substantially higher after the company announced a deal with Envoy Technologies a few weeks ago. BLNK, an electric vehicle (EV) charging station provider, had been treading water throughout much of 2020, moving between a high of just under $3 early in the year, to a low just below $1.50.

In the deal with Envoy, BNLK will provide charging stations for Envoy communities. Envoy provides a concierge like service to private communities by partnering with large commercial property developers. The company provides EVs and charging stations to community residents of apartment complexes, single family homes, and workplaces. 

Dubbed “Mobility as an Amenity”, the service offering plays to Blink’s charging station offering, allowing the company to supply a stable, geographically dense area of charging station users.

Blink Charging, which has over 15,000 EV charging stations in the United States, uses a partnership model with all of its location owners. Instead of selling charging stations, Blink runs a networked offering which it has dubbed the “Blink Network”. 

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This is a “proprietary cloud-based software that operates, maintains, and tracks all of the EV charging stations connected to the network and the associated charging data.”

The network makes efficiency a key component of partnering with Blink, both for businesses that provide charging stations as well as customers. 

The Blink Network “provides businesses, property owners, property managers, and businesses with cloud-based services that enable the remote monitoring and management of EV charging stations, payment processing, and provides EV drivers with vital EV charger information including station location, directions, availability, and applicable fees.”

Blink has captured investors’ imaginations recently, gaining attention right along with the recent rise of Tesla (TSLA) and Nikola Corporation (NKLA). Both, geared to EVs and hydrogen based fuels, have been top market performers in 2020.

In another positive development for Blink Charging, Apple (AAPL) announced recently it would be adding EV charge routing to its new Maps software to be released with iOS14. The new software will include routing to Blink EV charging stations. 

Related: Blink Applauds Apple’s Addition of Electric Vehicle Charge Routing Capabilities

With the confluence of news and events surrounding EVs, and Blink Charging specifically, BLNK stock has moved from $2.50 to $6.50 in the just last few days. 

In its latest earnings report, the company lost $0.11 per share, and reported revenue of $1.3 million for the quarter.

Steven Adams’s personal position in Blink Charging: none. 

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