That’s the main takeaway investors should understand about Beam, according to Northland analyst Abhishek Sinha.
On a smaller scale, also in January, Beam received an order from Dallas County Texas worth $500,000 for 6 off-grid EV ARC systems.Ī common factor in these new orders is the ability of the company to deploy the product quickly and put it into action with a minimum of fuss. In the weeks since the Q3 release, Beam has announced additional positive news, including, in January, contract order extensions with the State of California and the Federal Government totaling over $6.6 million.
#Beem stock forevast series
These gains were fueled by a series of recent wins the company has had in scoring new contracts, including a $29.4 million order from the US Army an $11.6 million order from the Veterans Affairs Department and a $5.3 million order from the City of New York. This past November, the company reported a quarterly record of $6.6 million in total revenue for Q3 of fiscal year 2022, for a 227% year-over-year increase. No major construction work is needed for deployment, and so no local zoning or permitting is required, either. The system is designed for off-grid use, drawing power from its incorporated solar panels, and is sized to fit in or around standard parking spaces – any parking lot can become an EV charging spot. Chief among these products is the EV ARC, the first off-grid, permit-free, rapid-deployment EV charging system. Beam has charging products in operation across 13 US states, in 96 cities. The first stock we’ll look at is Beam Global, a company that works in clean energy products for EV charging. Using the TipRanks platform, we’ve pinpointed two such names each boasts a ‘Strong Buy’ rating from the analyst community, and offers plenty of upside potential. We can get a taste of the opportunity here by looking at some of those pure-play charging stocks. In fact, the EV charging infrastructure market is expected to reach more than $207.5 billion by 2030. While they may not exude the same appeal as the car makers, those cars won’t get very far without the charging infrastructure that their support companies will make available. Today, we’ll look into the charging companies. EVs are bringing a range of supporting technologies and infrastructure with them, from battery manufacturers to charging companies, and savvy investors can find affordable opportunities in that supportive network. After all, he’s a headline machine – but his Tesla company has proven that the EV market can be profitable for automakers and investors alike.īut cars aren’t the only game in town for investors who want to buy into the EV sector, and worthwhile stocks don’t need to have Tesla-level prices. Say ‘electric vehicle’ these days, and Elon Musk is probably the first association that will come to mind.
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