The Beam Global (NASDAQ: BEEM) solar charging system won another contract for electric vehicle charging stations. The new US presidential administration’s green initiatives and sales increases led to a rally in BEEM shares.
According to recent research on Beam Global (BEEM), its stock is trading 34.47% below its three-month high price. A look at the other side shows the stock at +86.36% over its three-month low. BEEM has traded -34.47% below its 52-week high and 716.08% above its 52-week low price.
An integrated design for original Beam Global charging stations, including solar panels, batteries, and chargers, are in demand. Initially, the stations were designed to be easy to deploy and move to a new location if needed. Early stages of the distribution of electric vehicles are likely to be especially important for these kinds of charging stations.
The Florida Sheriffs’ Association placed a new order for Beam Global products. The company received orders for charging systems that could run during blackouts and floods. The customer believes Beam Global EV ARC charging stations are the only devices available on the market that are at the same time autonomous, transportable, and able to be deployed quickly, rather than taking months to connect.
There are 16 electric vehicle manufacturing plants in Florida, one of the largest in the United States. Over 64,000 electric vehicles are currently in use by the state, and the state is working to modernize its infrastructure to accommodate the increased fleet size.
Now let’s take a look at the recent market performance of the company. The company’s stock dropped by -8.36% on Monday, reaching a low of $48.80 while ending the day at $52.90. A total of 0.59 million shares were traded during the trading session, a 27.78% increase over the average session volume, which is 822.88K shares. BEEM closed its last session, trading at $49.74.