Last Updated: 16 Sep 2024
Executive Summary
Beam Global (BEEM), a cleantech company, operates in the renewable energy sector. The company's financial performance has been challenging, with consistent losses and negative margins. However, analysts remain optimistic, with 5 "Buy" ratings and an average target price of $14.17. The stock's current price of $5.29 presents a potential buying opportunity.
Company Overview
Beam Global designs, manufactures, and sells renewable energy powered products for EV charging infrastructure, outdoor media, and energy security. The company's focus on sustainability and its potential to benefit from the growing EV market make it an attractive investment.
Fundamental Analysis
Revenue: Beam Global's revenue for the trailing twelve months (TTM) was $65.9 million, a 0.169% decrease year-over-year.
Earnings: The company has consistently reported losses, with a TTM diluted EPS of -$1.16.
Margins: Both gross and operating margins are negative, indicating challenges in profitability.
Valuation: The company trades at a price-to-sales ratio of 1.181 and a price-to-book ratio of 1.792, which are relatively low compared to industry peers.
Technical Analysis
Price Action: BEEM's stock price has been trending sideways in recent months, with support around $5.20 and resistance around $6.00.
Moving Averages: The 50-day and 200-day moving averages are both above the current price, indicating potential support.
Relative Strength Index (RSI): The RSI is currently around 40, suggesting that the stock is neither overbought nor oversold.
Short Term Outlook
In the short term, BEEM's stock price is likely to remain range-bound. However, a breakout above $6.00 could signal a potential rally towards the analyst target price of $14.17.
Long Term Outlook
Beam Global's long-term outlook is promising, given the growing demand for renewable energy solutions and the company's strong product portfolio. However, the company needs to improve its profitability and financial performance to sustain long-term growth.
Analyst Recommendations
Analysts are generally positive on Beam Global, with 5 "Buy" ratings and an average target price of $14.17. This suggests that analysts believe the stock has significant upside potential from its current price.
