Needham analyst Chris Pierce has reiterated their neutral stance on BEEM stock, giving a Hold rating yesterday.
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Chris Pierce has given his Hold rating due to a combination of factors impacting Beam Global’s performance. The company’s recent quarterly results showed revenue falling short of expectations, partly due to delays in planned deliveries caused by the US government shutdown. Additionally, the current political environment and administrative stance on electric vehicles present ongoing challenges for Beam Global and similar companies reliant on EV adoption.
Despite these challenges, Beam Global is expanding into new markets and diversifying its product offerings. However, the EV ARC remains a significant contributor to the company’s comparative results, thanks to its high average selling price and the cost efficiencies at their San Diego manufacturing facility. The stock appears to be fairly valued, trading at approximately ten times the projected adjusted EBITDA for 2029, discounted to present value. Investors seem to be more concerned with short-term execution rather than the longer-term global opportunities, which supports the Hold rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.00 price target.