Top 5 EV Charging Stocks to Buy Now
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- Опубликовано: 7 июл 2023
- What are the BEST EV charging stocks on the market? Having fallen over the past year, are EV charging stocks a buy at their recent lows? Or should you stay away from these companies? I've selected the five I believe are best positioned in 2023. Stocks considered for this video include ChargePoint (CHPT), Blink (BLNK), Tritium (DCFC), EVgo (EVGO), Wallbox (WBX), Allego (ALLG), Beam Global (BEEM), Shell (SHEL), Tesla (TSLA), & other EV automakers.
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The content of this video & its comment section is not financial advice. Stock Probe is not accountable for any financial losses of its viewers. Do your own research before making any investment decision.
Disclosure: I hold a long position in TSLA. I hold no positions in any other stocks mentioned in this video.
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What companies have a heavy focus on developing dedicated charging infrastructure that can support the charging needs of large-scale commercial trucking fleets?
ChargePoint is strong on fleets and commercial businesses.
To my knowledge, most companies involved with DC fast chargers probably have plans to build chargers designed for trucks, heavy equipment, etc.
I know ChargePoint has been getting more involved with fleet charging (not sure how many of those customers are trucks vs passenger vehicle fleets). & Tesla will be building chargers for their semis.
But overall I haven't seen a lot of chargers specifically designed for trucks yet. The main reason is probably that there aren't many electric trucks being built. But I'm sure there'll be more in years to come!
Is WBX stock a good buy?
Seems like they have decent products but I expect more share dilution and/or borrowing in the future since they're not yet profitable. I don't own WBX myself.
I really want to get into TSLA but it is clearly overvaled as it shot up very fast since it reached the 200$ price-point. So now I have FOMO but also want to wait the bubble out.
TSLA is the only one from this video that I own. I don't plan to sell at its current price, but it's definitely a lot more expensive than just a few months ago.
Are you shorting Tritium DCFC? How is it not on your list for top 5 EV Charging?
My main concern with DCFC right now is their debt. Tritium seems to make good products & they're growing revenue & improving manufacturing efficiency quickly. But success in the next year or so appears to heavily depend on being able to raise more funds. & they'll probably be paying interest on their debt for a while.
Check the replies under @outofthebots3122 comment to see more thoughts from me & others. Let me know if there's something I'm missing.
If you bought and did this stock you lost your money Quit snibbling
How come you didn't include Tritium DCFC??
My main concerns are their lack of profitability & negative book value. Like most of the companies on the list, Tritium will need more funding in the future via share issuances or by borrowing.
If they're unable to raise enough funds to continue operations, it may make sense for DCFC to be acquired. Book value tends to play a larger role for a near-death acquisition, since growth usually ends without cash.
Because of Tritium's negative book value, it may be difficult for companies to justify acquiring Tritium.
Let me know your thoughts on this & if there's anything I'm missing!
@@stockprobe Thanks for your reply. Tritium floated in 2021 order to raise cash to scale up and build a large production plant in the US. They have been ramping the new facility to meet large back orders and announced they expect to be cash flow positive in first HY of 2023. My understanding is they don't need to raise more funds but will have share dilution through salary compensation.
Tritium used $78.7M for operating activities in second half of CY'22, & had $68.6M in cash at the end of year. Assuming their operating activities stay around that level in 2023 (or increas alongside increasing production), Tritium would likely run out of cash.
In May, Tritium announced a capital investment: "US$40 million, comprised of $35 million from Sunset Power Pty Ltd as trustee of the St Baker Family Trust (“St Baker”) and $5 million from O-Corp EV LLC (“O-Corp”)".
"This capital raise continues to build on the long-term, continued support of Tritium by both its largest shareholder, Trevor St Baker, and O-Corp".
Last September, Tritium also announced: "A $150 million debt facility, provided by a consortium of investors, in addition to a committed equity facility established with B. Riley Principal Capital II, LLC, for up to $75 million".
I expect Tritium will require more funding going forward, as business continues to burn lots of cash. Looks like the most significant areas Tritium's cash went in second half of CY'22 were: Hardware COGS ($77.9M), Inventory ($51.2M), SG&A ($36.4M), & accounts receivable ($28.8M).
Let me know your thoughts!
Tritium's announcement of the $40M investment: investors.tritiumcharging.com/news-releases/news-release-details/tritium-announces-40-million-capital-investment
Tritium's CY 2022 financials: investors.tritiumcharging.com/news-releases/news-release-details/tritium-reports-record-sales-revenue-and-backlog-2022-calendar
@@stockprobe thanks again for your time in replying to my comments.
Tritium is now in ramping stage of their factory where as last year they were in the building phase of the factory.
Some dot points from their press release on may 11
The Company set a new production record, with preliminary results from January 1, 2023 through April 30, 2023 of approximately 3,200 units, nearly achieving the Company’s total production of 3,572 units for calendar year 2022 in the first four months of calendar year 2023.
Given strong production, revenues, and performance in the calendar year-to-date, the Company is increasing its revenue guidance to a range of $210 million to $225 million.
The Company confirms its previously announced expectation to become EBITDA* positive during the first half of calendar year 2024.
So it does seem I got the year wrong and it is 2024 that they will be cash flow positive. But I think 2023 will be very different as they moved from construction to ramping production.
Thanks for the information!
It does look like Tritium's gross margins are improving. I'm not completely sure they'll be positive by the first half of CY'24, although it doesn't seem impossible if gross margins continue to improve.
If macroeconomic environment improves, it would likely benefit those gross margins (more demand for EV chargers) and inventories likely wouldn't be as high.
Capital expenditures on property, plant, & equipment was $4.9M in second half of CY'22, so it wasn't the biggest source of cash burn. But could grow as production ramps.
Seems like they have decent demand for their hardware, & production ramp seems to be going well!
Beem to the moon
Beam is interesting, why do you believe it will perform better than others in the charging industry?
I created a pie ETF for the longer term at trading212. ETF of 5 cheap charging shares ETF. For long term
1- charge point %20
2- Blink Charge %20
3- Evgo %20
4- Wall box %20
5- Plug Power %20