Needham & Company Starts Beam Global (BEEM) at Hold
- Wall Street ends first day of third quarter with solid rebound
- Goldman Sachs Warns Clients of More Equity Market Losses in Second Half of 2022
- Kohl's (KSS) Falls 15% After Ending Sale Talks With Franchise Group and Issuing Q2 Warning
- General Motors Warns It Has 95k Vehicles in Inventory Without Certain Components
- FAAMG Stocks Fall 32% on Average During 1st-Half of 2022
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Needham & Company analyst Vikram Bagri initiates coverage on Beam Global (NASDAQ: BEEM) with a Hold rating.
The analyst commented, "We initiate coverage of BEEM with a hold rating. BEEM has a patent-protected portfolio of rapidly deployable, solar-powered charging solutions that require no permitting, digging or trenching. While we believe the grid-tied chargers will make up the majority of EV charging infrastructure, we still expect BEEM products to succeed as grid availability becomes scarce, parking lots ideal for traditional charging infrastructure become harder to find, and charging demand in densely populated cities climbs. Until then, given the upfront cost of these products, we expect mostly price-agnostic customers such as state, federal, and local governments will be the largest buyers of the product. Longer term, we believe BEEM's marketing business could also be a major contributor of cash."
Shares of Beam Global closed at $31.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Citi Starts Symbotic Inc. (SYM) at Buy
- Solaria Energia y Medio Ambiente SA (SLR:SM) PT Raised to EUR18.20 at UBS
- Vintage Wine Estates (VWE) Falls as Analyst Says Wine Not Immune from Macro Slowdown
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!