H.C. Wainwright analyst Amit Dayal has maintained their bullish stance on BEEM stock, giving a Buy rating yesterday.
Amit Dayal’s rating is based on a strategic combination of factors that position Beam Global for future growth despite recent challenges. The company has faced headwinds in the U.S. market, particularly from governmental customers, leading to lower revenue expectations and a reduction in price target. However, Beam Global’s management is implementing measures to enhance profitability and expand their market presence.
These measures include price increases, engineering design improvements to reduce costs, and labor efficiency enhancements. Additionally, the company’s diversification efforts into Europe, Africa, and the Middle East, along with the introduction of new products such as BeamSpot, BeamBike, BeamPatrol, and BeamWell, are expected to drive future growth. Despite challenges, the company’s long-term potential in the global electrification trend remains promising, supporting the Buy rating.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Beam Global (BEEM) Company Description:
Envision Solar International, Inc. engages in the invention, design, engineering, manufacture, and sale of solar powered products. It offers solar powered products and proprietary technology solutions for electric vehicle charging infrastructure, out of home advertising platforms, and energy security and disaster preparedness. The company was founded by Robert Lane Noble on June 12, 2006 and is headquartered in San Diego, CA.
Read More on BEEM:
