Blink Charging Shares Surge On Better-Than-Expected Q3 Revenue - Blink Charging (NASDAQ:BLNK)

Blink Charging Co BLNK reported third-quarter FY21 sales growth of 607% year-on-year, to $6.40 million, beating the analyst consensus of $4.68 million.
Service revenues increased 425% Y/Y, and product sales rose 766%.
The company reported 3,016 charging stations contracted or sold in Q3, an increase of 351% from last year.
Operating expenses jumped 288% to $16.7 million. The operating loss widened to $(15.8) million.
The gross profit increased 143% Y/Y to $0.89 million. Adjusted EBITDA loss was $(8.4) million versus $(3.7) million last year.
EPS loss of $(0.36) missed the analyst consensus of $(0.29).
The company held $186.7 million in cash and equivalents as of September 30, 2021.
Analyst Rating: Roth Capital upgraded Blink Charging to Buy from Neutral, raising its price target to $45 from $37.
Price Action: BLNK shares traded higher by 13.7% at $40.39 on the last check Friday.