Beam Global

Beam Global (NASDAQ: BEEM) is a clean-tech business. The company concentrates on developing renewable energy products for EV charging infrastructure, outdoor media advertising, energy security, and catastrophe preparedness. Electric Vehicle Autonomous Renewable Charger (EV ARC), Solar Tree Products, EV-Standard Equipment, and UAV ARC drone charging products are among the company's offerings.

Key Highlights

• The company reported YoY growth of 44.96% in total revenue to USD 9.00 million in FY21 (ended December 31, 2021) compared to USD 6.21 million in FY20.
• BEEM’s net loss increased to USD 6.60 million in FY21 from USD 5.21 million in FY20.
• As of December 31, 2021, the company had cash and cash equivalents of USD 21.95 million and no outstanding debt.
• Its ROE was -23.9% in FY21 vs. the industry median of 10.1%.
• BEEM’s net margin for FY21 was -73.3%, significantly lower than the industry median of 5.5%.
• On March 17, 2022, BEEM installed an EV ARCTM solar-powered EV charging station to charge the Senior Center electric shuttle bus and other City fleet electric vehicles in The City of Costa Mesa in Orange County, California.
• Stock is currently trading between its crucial short-term (50-day) and long-term (200-day) SMA support levels.
• The stock is leaning towards the lower end of its 52-week range of USD 10.19 to USD 41.05.

Conclusion: Considering the company’s growth in topline, expansion in net losses, technical indicators, and associated risks. We recommend a "Watch" rating on the stock at the closing price of USD 18.98, down 14.39%, as of April 20, 2022.

Technical Price Chart (April 20, 2022). Source: REFINITIV, Analysis by Kalkine Group

Technical Analysis Summary:

*Closing price as of April 20, 2022

Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Technical Indicators Defined: -

Support: A level where-in the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level where-in the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

Note 1: The reference data in this report has been partly sourced from REFINITIV.  

Note 2: Investment decision should be made depending on the investors' appetite on upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting from the stock if the Target Price mentioned as per the valuation has been achieved and subject to the factors discussed above. 

Note 3: The report publishing date is as per the Pacific Time Zone.