Beam Global

Beam Global (NASDAQ: BEEM) is a clean-technology company focusing on developing renewable energy products for Electric Vehicle (EV) charging infrastructure, outdoor media advertising, energy security, and catastrophe preparedness.

Key Highlights

• The company reported YoY growth of 38% in net revenues to USD 2.02 million in Q3FY21 (ended September 30, 2021) compared to USD 1.24 million in QFY20 (ended June 27, 2020).
• BEEM's net loss expanded to USD 1.69 million during Q3FY21 vs. USD 1.10 million in Q3FY20.
• As of September 30, 2021, the company had cash and cash equivalents of USD 23.08 million and no outstanding debt.
• BEEM's Q3FY21 cash cycle of 164 days is significantly higher than the industry median of 82 days.
• Its ROE was -5.9% in Q3FY21 vs. the industry median of 3.0%.
• On December 14, 2021, Eastern West Virginia Regional Airport has installed the airport's first EV ARCTM solar-powered EV charging system, which will charge airport EVs and the EVs of employees, staff, travelers, and visitors.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) SMA support levels, a bearish indicator.
• The stock is leaning towards the lower end of its 52-week range of USD 18.28 to USD 75.50.
• BEEM's stock price decreased 55.78% and 69.18% in the past nine and twelve months, respectively.

Technical Price Chart (as of January 05, 2022). Analysis by Kalkine

Conclusion: Considering the topline growth, long-term profitability issues, technical indicators, and associated risks, we recommend a "Watch" rating on the stock at the closing price of USD 17.23, down 11.87%, as of January 05, 2022.

*The reference data in this report has been partly sourced from REFINITIV.