As electric vehicle (EV) sales surge, the need for efficient charging infrastructure becomes increasingly evident. The demand for EV charging stations has outstripped supply, hindering the full potential of the EV market. With only seven out of an intended 500,000 charging stations in operation, the lack of infrastructure poses a significant roadblock. This shortfall not only affects consumer sentiment but also impedes the transition to electric vehicles.
A Bright Spot: EV Charging Stocks
The bright side of this predicament lies in the realm of EV charging stocks. While the overall landscape may seem barren, companies such as EVgo, Beam Global, and Blink Charging present enticing investment opportunities within the EV charging ecosystem.
EVgo (EVGO)
EVgo boasts substantial upside potential, backed by solid financial performance. With a promising trajectory towards adjusted EBITDA breakeven by 2025, the company’s earnings have exceeded expectations. Noteworthy endorsements, such as Chief Executive Officer Badar Khan’s significant stock purchase, and a recent buy rating from analysts instill confidence in EVgo’s future prospects.
Beam Global (BEEM)
Beam Global, despite a recent dip post-earnings, showcases resilience in the face of challenges. The company’s remarkable 310% increase in EV charging new orders during the first quarter demonstrates its capacity for growth. Furthermore, Chief Executive Officer Desmond Wheatley’s remarks hint at a robust sales pipeline, especially in the European market, underscoring Beam Global’s expansion goals.
Blink Charging (BLNK)
Amidst fluctuations in its stock price, Blink Charging has shown promise as it navigates strategic partnerships and government alliances. Attaining the “in process” designation from the Federal Risk and Authorization Management Program signals a step towards becoming a pivotal EV charging solutions provider for the U.S. government. Moreover, collaborations with notable entities like Grupo Fame underline Blink Charging’s potential for market penetration and growth.
In a market grappling with infrastructure inadequacies, investing in these EV charging stocks presents an opportunity to not only capitalize on the burgeoning electric vehicle industry but also contribute to addressing the critical need for robust charging solutions.
