Technology company Beam Global (NASDAQ: BEEM) has announced a successful increase in sales of its electric vehicle charging stations. This is the reason why prices rose by 14.23% to reach $19.26 on June 9th.
BEEM’s inventory showed continued growth in repeat orders for its charging stations. This is a positive sign for long-term investors. Customers not only purchase Beam equipment for pilot projects and emergency deployments in locations with insufficient freight but also purchase additional stations later. Obviously, such purchases are proof of the development effectiveness of Beam Global (BEEM).
The advantage of the Beam Global station (BEEM) is autonomy: it does not need to be connected to the central grid, because the station is equipped with solar panels and a battery. Plus, the station can be installed in minutes virtually anywhere without building permits or utility company approvals.
At the same time, the control system allows you to adjust the power supply for different users depending on the operating conditions. For example, during a natural disaster and a power outage, the BEEM station can power emergency equipment and vehicles.
Beam Global (BEEM) saw a record number of orders in the first quarter and the company has now announced that it not only had new customers, but regular customers were also buying additional stations. In addition, the activity of business customers increased again.
While municipalities and government organizations have been major customers amid COVID-19, nearly 40% of orders last quarter came from commercial organizations and other non-governmental organizations. In this scenario, Beam Global (BEEM) expects strong demand and sales growth in 2022.
Beam Global (NASDAQ: BEEM) stock has risen 11.73% in the last week but is up 11.21 percent in the previous quarter. Going back further, the stock’s price has been down -29.51% in the previous six months but is down -10.38 percent year to date.