On May 25, 2023, former Director, Chairman, and CEO Michael Farkas sold 20,125 shares of Blink Charging Co (BLNK, Financial), a leading provider of electric vehicle (EV) charging equipment and networked EV charging services. This sale comes as part of a series of transactions by Farkas over the past year, during which he has sold a total of 417,123 shares and purchased none.
Who is Michael Farkas?
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 key player in the EV charging industry, offering both residential and commercial charging solutions. Farkas has played a significant role in shaping the company's vision and strategy, contributing to its success in the rapidly growing EV market.
About Blink Charging Co
Blink Charging Co is a leading provider of EV charging equipment and networked EV charging services. The company's mission is to accelerate the adoption of electric vehicles by providing convenient, fast, and reliable charging solutions. Blink offers a variety of charging products, including Level 2 AC charging stations, DC fast chargers, and portable chargers for residential and commercial use. The company also operates the Blink Network, a cloud-based platform that connects EV drivers with charging stations and provides valuable data and analytics for businesses and property owners.
Insider Trends
Over the past year, there have been 2 insider buys and 6 insider sells for Blink Charging Co. This indicates a trend of more insider selling than buying, which could be a signal for investors to monitor the stock closely. It is essential to consider the reasons behind these transactions and their potential impact on the stock price.
Valuation
On the day of Michael Farkas's recent sale, shares of Blink Charging Co were trading at $7.13 apiece, giving the stock a market cap of $420.851 million. With a price of $7.13 and a GuruFocus Value of $77.54, Blink Charging Co has a price-to-GF-Value ratio of 0.09. This suggests that the stock is a possible value trap, and investors should think twice before making a decision based on its GF Value.
The GF Value is an intrinsic value estimate developed by GuruFocus, 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.
Conclusion
Michael Farkas's recent sale of 20,125 shares of Blink Charging Co is part of a larger trend of insider selling over the past year. While this may raise concerns for some investors, it is crucial to consider the company's overall performance, growth prospects, and valuation before making any investment decisions. With a price-to-GF-Value ratio of 0.09, Blink Charging Co may be a possible value trap, and investors should carefully evaluate the stock before making a decision.
