It wouldn’t surprise me if institutions would begin buying once it reaches the 500 mln mkt cap and the 1bln mkt cap.Īll in all I think great thinks will happen to Beam Global in the future. Because of the recent bull run I think BEEM will show up on the radar of more analists (it was 1, buy rating) because of the larger market cap. Even though it was trading at $35 a couple of weeks ago the stock keeps climbing and climbing. (Rebranding and more contracts secured) Maxim Group has upped their price target to $90 from $45, the stock is currently trading at $68. However I don’t think that’s too relevant now because of the new fundamental changes. Price of stock: Ytd the stock has gone more than 10x. The CEO is very happy about it and their customers are also excited about the change. This is to better reflect their direction of going solar. Name change: 3 months ago Envision Solar rebranded themselves to Beam Global. They have more than sufficient cash to cover short/ medium terms and to expand their production line. Partly because of a stock offering a couple months ago. Beam Global could play a leading role in that transition.įinancials: The company has a monthly cash burn of 300k usd. Presidency: Biden will take office in the coming year and vouched to have around 500,000 EV charging stations across the US by 2030. They also struck a deal a couple of days ago that could lower the bar for other organizations to do the same. Recent developments: The city of Montebello, CA has agreed to buy a couple of ARC’s. Off-grid offers benefits like transporting those arc’s to other locations, cost way less to build and maintain, they don’t require utility bills and they can withstand flooding and storms, to a certain point. On the other hand the ARC’s offer off-grid solutions set up in minutes. That’s because conventional companies have to deal with legal and regulation costs and obtaining permits. Conventional projects that change a parking lot to a EV parking lot can take, on average, between 18-24 months. I put the “ marks because it doesn’t really compete directly because Beam offers the only off-grid solution. This is the product that “competes” against EV charging stations.
Their most notable (patented) product is the EV ARC 2020. They have a few patents on a couple sectors. Beam Global is an upcoming player in the solar energy industry.
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