On Friday, Blink Charging (NASDAQ: BLNK) announced that it has deployed 27 charging ports at six locations across Traverse City, Michigan, in partnership with Traverse City Light & Power (TCL&P).
The deployments were funded, in part, by a grant from the Michigan Department of Environment, Great Lakes, and Energy (EGLE). It is part of TCL&P’s efforts to advance its environmental program and reduce the city’s carbon footprint.
“Blink is proud to provide Traverse City Light & Power with EV chargers both for DC fast and Level 2 charging,” said Brendan Jones, President of Blink Charging.
“With the new IQ 200 100-amp chargers, Traverse City residents and visitors can have confidence that the city’s infrastructure is well-positioned to meet their charging needs today and to serve the EVs of tomorrow without requiring future upgrades as EV technology changes,” he added.
Blink Charging's share price has declined slightly on Friday, down just 0.33% at $30.64. For the year to date, its shares have lost 28.09% in value.
On Thursday, Blink was initiated with a Neutral at DA Davidson and a price target of $31. Analyst Matt Summerville is positive about the company's position as the only public, integrated owner/operator of EV charging. However, he did note that Blink's valuation is relatively full due to the “blend of growth and risk prospects.”
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