On June 5, 2023, former Director, Chairman, and CEO Michael Farkas sold 29,074 shares of Blink Charging Co (BLNK, Financial), a leading electric vehicle (EV) charging equipment and network provider. This insider sell comes amidst a year of significant insider trading activity for the company.
Who is Michael Farkas of Blink Charging Co?
Michael Farkas is the founder of Blink Charging Co and has served as the company's Director, Chairman, and CEO. Under his leadership, the company has grown to become a prominent player in the EV charging industry, providing charging equipment and services to various businesses and property owners. Farkas has played a crucial role in shaping the company's vision and strategy, contributing to its success in the rapidly growing EV market.
Blink Charging Co's Business Description
Blink Charging Co is a leading provider of EV charging equipment and networked EV charging services. The company offers both residential and commercial EV charging equipment, enabling EV drivers to recharge their vehicles at various locations, including homes, workplaces, and public charging stations. Blink Charging Co also operates the Blink Network, a cloud-based software platform that connects thousands of charging stations across the United States, providing EV drivers with convenient access to charging services and real-time information on charging station availability.
Analysis of Insider Buy/Sell and Relationship with Stock Price
Over the past year, Michael Farkas has sold a total of 506,072 shares and purchased 0 shares. This recent sale of 29,074 shares comes at a time when the stock price has been experiencing fluctuations. The insider transaction history for Blink Charging Co shows that there have been 2 insider buys and 9 insider sells over the past year.
Shares of Blink Charging Co were trading for $6.71 apiece on the day of Michael Farkas's recent sell, giving the stock a market cap of $409.228 million. With a price of $6.71 and a GuruFocus Value of $78.52, Blink Charging Co has a price-to-GF-Value ratio of 0.09. This indicates that the stock is a possible value trap, and investors should think twice before making a decision.
The GF Value is an intrinsic value estimate developed by GuruFocus that is calculated based on the following three factors:
- Historical multiples (price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow) that the stock has traded at.
- A GuruFocus adjustment factor based on the company's past returns and growth.
- Future estimates of business performance from Morningstar analysts.
In conclusion, the recent insider sell by Michael Farkas may raise concerns for potential investors. However, it is essential to consider the overall insider trading activity and the company's performance in the growing EV market. Blink Charging Co's business model and networked charging services position it well for future growth, but investors should carefully analyze the stock's valuation and other factors before making an investment decision.
