Beam Global +7% as initiated with Buy, $23 target at B. Riley

Jun. 17, 2022 11:14 AM ETBEEMBy: Pranav Ghumatkar, SA News Editor
  • B. Riley analyst Christopher Souther initiated coverage of Beam Global (BEEM) with a Buy rating and $23 price target.
  • Beam designs, manufactures, and deploys solar- and storage-powered electric vehicle charging infrastructure that is well suited to "carve out a needed niche in EV charging infrastructure.
  • The analyst expects Beam to benefit from the faster deployment times of its off-grid solutions as municipalities, fleets, and other players look to scale up more quickly than red tape or grid availability typically allows.
  • Beam Global's SA Quant Rating stands with a Sell, but is in contrast to Wall St. Analysts Rating of Buy (2 Very Bullish, 2 Bullish, Bearish 0).
  • Since the start of 2022, Beam Global shares were down around 28%, and over a period of one year, shares were down around 59%.
  • Shares are currently up ~7.21% to $14.58 today.

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