---
title: "3 EV Charging Stocks to Buy Now: June 2024"
description: "The U.S. is facing a lack of charging stations for electric vehicles, hindering their adoption. This presents a significant opportunity for EV charging stocks. EVgo, Blink Charging, and ChargePoint ar"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/206931521.md"
published_at: "2024-06-21T14:00:00.000Z"
---

# 3 EV Charging Stocks to Buy Now: June 2024

> The U.S. is facing a lack of charging stations for electric vehicles, hindering their adoption. This presents a significant opportunity for EV charging stocks. EVgo, Blink Charging, and ChargePoint are among the top stocks to consider. These companies have shown solid earnings and potential for growth. Increased government support and partnerships with major automakers could further enhance their market position. As the demand for EV charging increases, these stocks could see significant upside.

With electric vehicle sales starting to accelerate again, the U.S. is in desperate need of more charging stations. All of which is creating a big opportunity for some of the top EV charging stocks to buy now. Unfortunately, of the 500,000 EV charging stations the Biden Administration pledged to build two years ago, seven are up and running.

Worse, about 80% of Americans say they won’t buy an electric vehicle because of the lack of charging options. Jennifer Benz, deputy director of the Associated Press-NORC Center for Public Affairs Research was quoted by CNBC as saying:

> “While there is plenty of interest in purchasing an electric vehicle, the high upfront cost of owning one and concerns about the country’s charging infrastructure are barriers to more people driving them.”

While the Biden Administration wants at least 50% of all vehicles to be electric by 2030, it won’t happen until we get far more serious about charging stations. Also, according to the National Renewable Energy Laboratory, we’ll need 28 million EV charging ports set up to support the 33 million EVs the group believes will be on the road by 2030.

With growing demand for EV charging, we will eventually see more charging stations. All of which would be a significant catalyst for EV charging stocks to buy now.

## **EVgo (**EVGO**)**

Source: Sundry Photography / Shutterstock.com

Consolidating at $1.98, **EVgo** (NASDAQ:**EVGO**) has substantial upside potential.

For one, earnings have been solid. In its most recent quarter, its earnings per share loss of nine cents beat by five cents. Revenue of $55.2 million, up 118.2% year-over-year beat by $1.85 million. Plus, it expects to achieve adjusted EBITDA breakeven results by 2025. All of which could help create even more shareholder value.

Helping, Chief Executive Officer Badar Khan just bought 125,000 shares at an average price of $2.05 for about $251,250. Plus, analysts at Benchmark gave it a “buy” rating on EVGO with a $3 price target. Not only do the analysts believe EVgo could achieve positive EBITDA by 2025, but they also say it could add about 800 charging stalls annually.

The firm also says EVgo’s partnerships with **General Motors** (NYSE:**GM**), **Nissan** (OTCMKTS:**NSANY**) and **Toyota** (NYSE:**TM**) could help strengthen its market position, as well.

At $1.98, I’d buy and hold EVGO for the long haul. If and when the U.S. gets far more serious about EVs and EV charging stations, EVGO could see significant upside.

## **Blink Charging (**BLNK**)**

Source: David Tonelson/Shutterstock.com

Another one of the top EV charging stocks to buy on weakness is **Blink Charging** (NASDAQ:**BLNK**).

Earnings have been solid here, too. In its most recent quarter, its EPS loss of 13 cents beat by seven cents. Revenue of $37.57 million, up 73% YOY, beat by $2.96 million. It also says it’ll achieve positive adjusted EBITDA by the end of this year.

Helping, BLNK is now one of the official EV charging providers for New York. And it just achieved an “in process” designation from the Federal Risk and Authorization Management Program for EV charging solutions. If Blink can achieve full accreditation from the agency, other government agencies can contract Blink for EV charging. That could potentially happen by the third quarter.

Analysts at D.A. Davidson recently reiterated a hold on the BLNK stock with a $5 price target.

Now all we need is for the Administration to get aggressive with EV charging stations, and we could watch Blink explode significantly higher from its last traded price of $2.81.

## **ChargePoint (**CHPT**)**

Source: JL IMAGES / Shutterstock.com

Weakness in **ChargePoint** (NYSE:**CHPT**) is also a buying opportunity.

Earnings have been good here, too. Its EPS loss of 17 cents beat by two cents. Revenue of $107.04 million while down 17.7% YOY beat by $1.4 million. Unfortunately, revenue guidance of $108 million to $118 million, as compared to estimates of $122 million, was a bit disappointing. Despite the negativity, there’s still plenty to get excited about.

For one, the U.S. is in desperate need of EV chargers. Two, it just announced its software will be used in **LG Electronics’** EV charging hardware. Three, it just partnered with **Porsche Cars North America** (PCNA), which will allow PCNA to access the ChargePoint network. That should also increase the number of chargers available to Porsche customers to 100,000 across the U.S.

Last trading at $1.50, I’d use weakness as a long-term buying opportunity. Eventually, I’d like to see CHPT race back to at least $10 a share.

*On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.*

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

Automotive, Consumer Discretionary, Electric Vehicles

Growth Stocks

### Related Stocks

- [BLNK.US - Blink Charging](https://longbridge.com/en/quote/BLNK.US.md)
- [CHPT.US - ChargePoint](https://longbridge.com/en/quote/CHPT.US.md)
- [EVGO.US - EVgo](https://longbridge.com/en/quote/EVGO.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| i-charging 发布了输出功率高达 1.6 兆瓦的充电系统 | i-charging 推出了 MAX 模块化电源供应单元，能够提供高达 1.6 MW 的功率，支持同时为八辆电动车充电。该系统具有动态功率分配功能，以 50 kW 的增量分配电力，并支持包括 CCS 和 MCS 在内的多种充电标准。MAX  | [Link](https://longbridge.com/en/news/276225798.md) |
| 在过去的一年里，ChargePoint 充电器上已经进行了超过一亿次电动汽车充电会话 | ChargePoint 宣布在过去一年中实现了超过 1 亿次电动车充电会话，突显了电动车（EV）的日益普及。该公司指出，近 60% 的 193 亿电动英里是在过去两年内行驶的，这表明关注点已从新电动车销售转向路上电动车的总数。ChargeP | [Link](https://longbridge.com/en/news/276014861.md) |
| ChargePoint 报告充电会话增加 34%，但基础设施未能跟上需求 | ChargePoint Holdings Inc. 报告称，过去一年充电会话增加了 34%，新充电端口增长了 16%。每月有超过一百万名电动车驾驶员使用 ChargePoint。插电式混合动力车占商业交流充电会话的 16%。自 2007 年 | [Link](https://longbridge.com/en/news/275609179.md) |
| Blink Charging 与 BetterFleet 合作，旨在简化电动汽车车队的管理 | Blink Charging Co. 与 BetterFleet 合作，以增强电动车队管理。此次合作将 BetterFleet 的人工智能驱动技术与 Blink 的充电基础设施相结合，提供可持续车队规划和运营管理的工具。该倡议旨在简化电动车 | [Link](https://longbridge.com/en/news/275612549.md) |
| Blink Charging 公司向离职高管提供 552,610 美元的离职补偿金和股票单位 | Blink Charging Co. 宣布，前总法律顾问兼并购执行副总裁 Aviv Hillo 将于 2026 年 1 月 31 日离职。根据他的离职协议，Hillo 将获得 552,610 美元的现金支付和完全归属的限制性股票单位。此公告 | [Link](https://longbridge.com/en/news/275037863.md) |

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
