Beam awarded Sate of California contract to supply EV ARC EV charging systems » 08:1806/2906/29/22
Beam Global announced…
Beam Global announced that the State of California has awarded contract #1-22-61-16 to supply EV ARC sustainable EV charging systems through the Department of General Services, DGS, to Beam Global. California state, local and municipal government entities, and government entities in other U.S. states, can purchase Beam products at the California negotiated price, without having to go through a lengthy procurement or technology review process. The award is effective June 24, 2022 through June 23, 2025 and is eligible for renewal through June 23, 2027. "This new contract with California is at once a powerful validation of our products which the state has been using for many years and also a strong indication of California's commitment to electrifying transportation and using rapidly deployed, sustainable and robust charging infrastructure products that are made in the U.S. to fuel this new generation of vehicles," said Beam Global CEO Desmond Wheatley. "Consumers, companies and governments are adopting EVs at a faster rate than ever and yet we are still just at the beginning of this massive shift. The need for EV charging infrastructure is becoming greater and more urgent every day. Our ability to rapidly scale and deploy EV chargers without construction or electrical work and without utility bills, grid capacity constraints or vulnerability to black-outs, is becoming increasingly recognized as vital to the success of this evolution. We are busier than ever but we're planning on getting a lot more busy."
|Over a week ago|
What You Missed This Week in EVs and Clean Energy » 10:4406/2106/21/22
NOVA, SPWR, HYLN, NEP, BLNK, BEEM, CHPT, F, GM, TSLA
Beam Global initiated with Buy, $23 target at B. Riley » 06:5906/1706/17/22
B. Riley analyst…
B. Riley analyst Christopher Souther initiated coverage of Beam Global 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," Souther tells investors in a research note. 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 initiated with a Buy at B. Riley » 05:2106/1706/17/22
B. Riley initiated…
B. Riley initiated coverage of Beam Global with a Buy rating and $23 price target.
Beam Global announces continued growth in repeat orders in Q2 » 08:0406/0806/08/22
Beam Global announced…
Beam Global announced continued growth in repeat orders, multiple-unit orders and enterprise customer orders during the 2nd quarter of 2022, demonstrating market momentum for EV ARC sustainable EV charging systems across government and enterprise. "On the heels of a record Q1, we have a solid mix of new EV ARC orders thus far this quarter from both new and repeat customers, and the majority of these customers are placing multi-unit orders, demonstrating the increasing adoption and demand we expect to see throughout 2022," said Beam Global CEO Desmond Wheatley. "We are also seeing the return of enterprise customers with nearly 40% of new orders so far this quarter from non-government customers. I believe this combination bodes well for continued growth in 2022." Orders and deployments thus far in Q2 span 12 states, including the two new states of New Jersey and Illinois, bringing the total to 31 states in the US where EV ARC systems are deployed. EV ARC sustainable EV charging systems generate and store their own electricity, and deliver that energy to any quality brand charger the customer chooses. Because the EV ARC is off grid, it requires no permitting, no electrical work, no construction and no utility bill. Customers can continue to charge during grid outages, inclement weather and emergencies, and can offer EV charging in locations without sufficient circuitry to support EV charging.
|Over a month ago|
Beam Global price target lowered to $25 from $42 at BTIG » 06:1905/2605/26/22
BTIG analyst Gregory…
BTIG analyst Gregory Lewis lowered the firm's price target on Beam Global to $25 from $42 but keeps a Buy rating on the shares. The company's Q1 revenue growth of 175% y/y was driven by an increase in order volumes with Beam Global having its second highest quarter for deliveries to date, the analyst tells investors in a research note. The company continues to see increasing demand for its EV ARC product from a mix of government and corporate buyers which should pave the way for continued revenue growth over the next few years, Lewis adds.
Fly Intel: Pre-market Movers » 09:1105/2505/25/22
WEN, EXPR, BEEM, DY, PLAB, DKS, VRCA, IDCC, KDNY, TWOU
Check out this morning's…
Beam Global reports Q1 EPS (24c), consensus (18c) » 05:2905/2505/25/22
Reports Q1 revenue…
Reports Q1 revenue $3.77M, consensus $2.71M. "We continue to make advances across all areas of our business with new records in revenues, product deliveries and, perhaps most importantly, pipeline," said Desmond Wheatley, CEO of Beam. "Deliveries and new opportunities in the quarter came from government and commercial sectors and we anticipate strong continued growth from both. Operationally we are more efficient and producing product at a faster rate than at any time in our history. Our acquisition of a battery technology company makes us unique in the industry and will, I believe, further improve our efficiency and profitability. Improving our gross margins at a time of historically high inflation is a powerful testament that our cost management efforts are paying off. The combination of all these factors bodes well for an excellent 2022 for Beam Global."
Beam Global receives orders from California DGS, multiple federal agencies » 08:4005/0505/05/22
Beam Global announced…
Beam Global announced that the California Department of General Services, DGS, placed a follow-on order for 23 EV ARC sustainable EV charging systems in the first quarter of 2022. Several federal agencies and an increasing number of private enterprise customers placed multi-unit orders during the same period, along with other orders. The government customer systems will be used to charge fleet EVs and to provide energy resiliency and disaster preparedness, providing local, state and federal government entities with access to vital fuel for EVs and electricity for other purposes in emergencies, disasters and grid outages. Private enterprise customers are using the sustainable charging systems to provide rapidly deployed EV charging for employees, visitors and customers as EV adoption gains momentum. "Beam Global had a record year of deliveries and revenue in 2021 and we have just announced that we made more deliveries in Q1 of '22 than in any prior Q1 in our history," said Desmond Wheatley, CEO of Beam Global. "The sales team was busy in the quarter too and we see the momentum continuing with these orders, both repeat and new, from excellent customers. We are delighted to continue to receive orders through the California contract as well as all the others, and we anticipate even more growth from our recently announced Federal Blanket Purchase Agreement."
Largest borrow rate increases among liquid names » 08:4505/0305/03/22
NRGV, CENN, BROS, BYND, SOS, JOBY, DOGZ, PLTK, BEEM, MTTR
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Novus Capital Corporation II (NRGV) 166.55% +7.06, Cenntro Electric Group (CENN) 10.76% +1.67, Dutch Bros (BROS) 7.79% +1.25, Beyond Meat (BYND) 19.03% +0.97, SOS Limited (SOS) 5.89% +0.90, Joby Aviation (JOBY) 5.78% +0.86, Dogness Internationa (DOGZ) 45.42% +0.64, Playtika Holding Corp (PLTK) 0.66% +0.23, Beam Global (BEEM) 49.32% +0.22, and Matterport (MTTR) 2.07% +0.18.