Welcome back to a brand new video everyone, so I have for you today updates on 3 top ev
charging stocks which are outperforming the markets right now.
The global Electric Vehicle (EV) charging stations market size reached $6.7bn Billion
in 2021 and is expected to grow at CAGR of 38.7%..
We are very bullish on the ev sector and since we recently called some of these stocks, we
are already seeing 100% gains.
So you want to make sure you stick around to the end to assess which one of these stocks,
deserve a place on your watchlist and let me know in the comments section below.
So if you are bullish about the ev bull run, please drop a like on the video to spread
its reach and if you are new to the channel please subscribe and hit the bell so you never
miss out on any of these gems and also check us out in Twitter for live market updates.
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First off for your watchlist is Beam Global (BEEM) which we called at recently at $11.59
per share and this one has given us over 100% gains as it is now sitting at $22.9 per share
with a market cap of $218m.
Beem has been on a very strong bull run in the last month which you can see here with
it being up 41%.
And this is at a time when most markets are seeing deep red.
This shows the level of resilience which you can get with Beem given their solid prospect.
We are doing our analysis on a this new platform, courtesy of our partner Seeking Alpha which
provides a comprehensive end to end platform for stock analysis, peer comparisons, and
news insights and lots lots more to enrich your stock reviews.
So if this is something of interest to you, you certainly want to check their platform
out from the link in the description below.
So here’s what’s new with Beem
Beem report their fiscal year 2021 financial results which had the following highlights,
they generated record annual revenues of $9.0 million in 2021, 134% growth in new orders
year-over-year, 67% growth in system deliveries year-over-year, Acquired energy storage leader
AllCell Technologies and Received first battery order of $2.3 million within weeks of the
acquisition of AllCell Technologies, Received the largest single order in company history
of 52 units, and lots of other achievements.
And lots lots more.
Desmond Wheatley, CEO of Beam said they had material improvements in sales, revenues,
deliveries and performance.
At the same time, they reduced their costs as a percentage of revenues during the most
severe inflationary period in over forty years.
They are now seeing dramatic increases in spending on EVs and EV charging infrastructure
in the US and internationally so they anticipate that all the positive trends they put in place
in 2021 will continue and accelerate in 2022.
Also Acquiring AllCell Technologies uniquely positions them in the industry as the only
provider with a proprietary energy storage solution and at the same time it will dramatically
reduce their costs which positions them very well for 2022.”
And when you look at Simply Wall Street analysts forecasts for earnings growth at 73% and revenue
growth at 44.8% you can see the huge gap to the industry and market over the long term
for Beam.
They are yet to be profitable but with growth like this and good management focus, earnings
are bound to come.
They are forecast to become profitable over the next 3 years, which is considered above
average market growth which is a great outlook.
If you want to be able to do robust analysis on your stock picks and get a holistic industry
views before investing in them, you want to check out Simply Wall Street from the link
in the description as they are offering 14 day extended free trial and unlimited company
views are automatically applied for any user who uses my referral link from the description
below.
Next up to our number 2 ev charging stock is ChargePoint Holdings Inc (CHPT) which is
now sitting at $16.76 with a market cap of $5.9bn.
Chargepoint has also been charging up recently to hit highs of over $20 per share before
pulling back..
So here’s what’s new with Chargepoint.
ChargePoint partnered with Goldman Sachs Renewable Power to offer new customer solutions to accelerate
EV charging deployment.
Together, with Goldman Sachs Renewable Power, they are introducing new tailored financing
solutions as part of the ChargePoint as a Service® (CPaaS®) product family to reduce
upfront costs of EV charging technology for eligible customers.
Through this unique partnership, eligible customers can choose the CPaaS option that
best fits their needs, which now includes both financed and turnkey charging.
The new financed option enables customers to pay for charging infrastructure as an operational
expense, and the turnkey option enables customers offering public charging to host a station
at zero cost to them.
This partnership will enable customers to implement a superior EV charging solution
at no capital expense which is just brilliant.
Their CEO Pasquale Romano commented that “This partnership with Goldman Sachs reduces the
barrier to entry for businesses who have been interested in adopting clean energy but have
held back due to lack of tailored financing,” “Fleet owners, retailers, fueling and convenience
providers, transit operators, and logistics firms, among others, can now participate in
the new fueling network without the upfront costs and utilization risk typically associated
with EV charging which is brilliant stuff.
And in a recent article, an analyst cited that this EV Stock Could Keep Outperforming
Tesla and the Nasdaq in 2022 and Beyond.
They sited that ChargePoint is one of the few EV stocks that is beating the market in
2022 as the company reported exceptional fiscal 2022 results and fiscal 2023 guidance that
initially went largely ignored by Wall Street.
The fact that ChargePoint is expecting revenue to nearly double during a year when the EV
industry, as a whole, is facing a lot of challenges is a testament to widespread optimism toward
the need for more charging.
And despite being up 37% in one month, ChargePoint stock has room to run as the company already
considers over 50% of Fortune 500 companies its customers.
Despite its potential, ChargePoint is a risky investment because it isn't profitable and
is betting on an unproven industry.
But for investors that believe in EV adoption and the need for charging, ChargePoint stands
out as one of the best options in the space.
And From a future growth perspective, Simply WallStreet analysts see an earnings growth
at 52.3% and revenue growth at 31.4% which are both ahead of the industry and market
over the long term for Chargepoint.
Next up to our number 3 EVGO Inc (EVGO) which we recently called at $7.67 per share but
it is now sitting at $12.48 per share with a market cap of $3.2bn and giving us over
60% gains which is massive in the current market environment..
So some good resilience shown here.
So whilst Goldmans was partnering with Chargepoint, we’ve got another one here as Chase announced
that it will pilot public fast electric vehicle charging stations across 50 of its U.S. branches
beginning this summer.
This adds to the firm’s efforts to promote environmental sustainability in its retail
locations as it also aims to expand on-site solar power to approximately 400 additional
branches by the end of 2022.
Charging stations at branches bring added convenience to customers, allowing them to
set up a meeting with a banker and conduct their banking needs while charging their cars.
Fast chargers will be installed at select Chase branch locations offering thousands
of drivers access to 100kW and 350kW chargers that can charge vehicles as much as 80% in
15-45 minutes.
And in the fourth quarter and full year 2021 results, EVGO reported 2021 Revenue increased
by 52% year-over-year and For full-year 2021, revenue increased to $22.2 million, compared
to $14.6 million for full-year 2020,.
Network throughput in 2021 rose to 26.4 Gigawatt-hours (GWh), a 68% increase over prior year, they
Ended the year with approximately 340,000 customer accounts, marking an approximate
80% of non-Tesla US EV sales.
And with their partnerships now including a Toyota Charging program, A Subaru charging
program, the future certainly looks bright for this one.
From a future growth perspective, similar to Chargepoint Simply WallStreet analysts
see an earnings growth at 37.2% and revenue growth at 44.5% which are both beating the
industry and market over the long term for EVGO.
So some very very interesting and mindblowing prospects ahead for these penny stocks but
only consider getting in if the price is right for you and if you fully understand the risks.
This video is not financial advice, a buy or a sell recommendation, but is meant to
bring some new and exciting penny stocks to your attention for you to do your own research..
As always I would love to hear from you, so please let me know your thoughts on these
top penny stocks in the comments section below and what other penny stocks are catching your
eyes lately.
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Thank you so much for being here and I look forward to have you in my next video.
Thank you