![]() ![]() His bullish target supports his Outperform (i.e. To this end, Sinha gives BEEM shares a $25 target price, suggesting a solid 58% upside potential over the next 12 months. Summing up, Sinha wrote, "Given the recent rout in the EV Charging space, we believe BEEM offers a differentiated proposition and an attractive entry point." In every instance where BEEM has deployed its units so far, the cost of its unit was less than the avoided cost of construction work that would have been required to deploy the chargers in the location where they have been deployed,” Sinha explained. However, after factoring in the cost for construction work (digging, trenching, electrical set up) and electricity costs, BEEM’s products come out less expensive. Arguably, BEEM’s products are lot more expensive ($60K/unit) vs a normal Level 2 charger ($2-4K /unit). “Rapid deploy ability & scalability, lower total cost of ownership, invulnerability to blackouts, being agnostic to an EV Charging company, having a patented solar tracking and storage solution altogether make BEEM’s products very differentiated versus what the market has to offer. 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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