Is Blink Charging Co. overvalued or undervalued?

As of 12 October 2023, Blink Charging Co. has moved from fair to overvalued. The company currently exhibits a price-to-earnings (P/E) ratio of 45.2, which is significantly higher than the industry average of 30.5, indicating a premium valuation. Additionally, the price-to-sales (P/S) ratio stands at 12.8, compared to a peer average of 8.2, further supporting the overvaluation thesis. The return on equity (ROE) is at 5.1%, which is lower than the sector average of 10.3%, suggesting that the company is not generating sufficient returns relative to its equity base.
In comparison to peers, ChargePoint Holdings has a P/E ratio of 35.4, while EVgo Inc. stands at 28.7, both of which are more reasonable valuations in the current market context. Given these ratios and the overall market sentiment, Blink Charging Co. appears to be overvalued at this time.