11 Best EV Charging Stocks To Invest In

8. Blink Charging Co. (NASDAQ:BLNK)

Number of Hedge Fund Holders: 5

Blink Charging Co. (NASDAQ:BLNK) is a prominent player in the EV charging infrastructure industry, operating one of the largest charging networks in the United States and globally. It takes the 8th spot on our list of the best EV charging stocks to invest in.

The company manages over 90,000 chargers across several countries, which positions the company as a top provider in the EV charging space. Since its founding in 2006, the company has undergone several transformations, including strategic acquisitions like ECOtality’s Blink Network and SemaConnect, which have expanded its reach.

It recently partnered with the e-commerce platform, WEX, to make it easier for businesses to charge EVs as part of their fleets. WEX supports around 19.4 million vehicles worldwide, and will now include Blink’s (NASDAQ:BLNK) EV chargers in its network.

Drivers can use the WEX app or card to charge their EVs, with secure payments and detailed reports for tracking. The partnership supports the company’s goal of promoting clean energy and making transportation more sustainable.

Additionally, on August 27, Blink Charging (NASDAQ:BLNK) announced its strategic partnership with Create Energy, a renewable energy company from Tennessee, to provide advanced energy management solutions. The collaboration aims to offer businesses in sectors like logistics, real estate, and automotive a unified platform for integrating renewable energy resources such as solar panels and battery storage systems with the company’s EV chargers.

The joint effort is designed to simplify project processes and reduce costs by combining both companies’ technologies. Leaders from both companies emphasized the innovation and customer benefits this partnership will bring to the commercial and industrial market.

On August 8, TipRanks reported that Needham analyst Chris Pierce maintained a Buy rating on Blink Charging (NASDAQ:BLNK) with a $4 price target. Despite the company lowering its full-year revenue forecast and delaying profitability for adjusted EBITDA, Pierce remains optimistic about the company’s growth potential. He highlighted the company’s diverse business model and the expected increase in demand for EV charging stations as electric vehicle adoption rises in the U.S. Despite short-term challenges, he believes the company’s long-term outlook is promising.

In Q2, 5 hedge funds had stakes worth $7.78 million in Blink Charging (NASDAQ:BLNK). As of June 30, D E Shaw holds over 1.8 million of the company shares, worth nearly $5 million and is the company’s most prominent shareholder.