The Top 3 EV Charging Stocks to Buy in March 2024


EV charging stocks are showing big signs of life, thanks to improvements in electric vehicle (EV) sales and an uptick in charging station use. All of which made it easy to spot some of the top EV charging stocks to buy.

For one, we’re learning that Ford (NYSE:F) U.S. EV sales soared about 81% in February. Two, as noted by, “While there are some serious challenges surrounding EVs — such as the need to build out the nation’s charging infrastructure — automakers are on track to continue on a path of substantial growth.” Three, EV sales were strong last year. In fact, Americans bought 1.9 million EVs last year, up 46% from a year earlier.”

On top of that, electric vehicle charging station use is up. As noted by Barron’s, “Drivers used 50 gigawatt hours from EVgo stalls in the fourth quarter, up from 14 a year ago.”

However, holding back further EV adoption is a severe lack of charging stations. 

As I noted on Feb. 12, “Right now, the U.S. has just under 130,000 publicly available charging ports at 50,401 charging stations, according to Yet, when we approach the U.S. goal of half of all auto sales being electric, we’ll need 1.2 million public, and 28 million private EV charging stations, or about 20 times more than we have now.”

That being said, investors may want to consider these EV charging stocks to buy.


EVgo fast charging station

Source: Sundry Photography /

One of the top EV charging stocks to buy is EVgo (NASDAQ:EVGO).

Over the last few weeks, EVGO ran from a low of about $2 per share to a high of $3.37 per share. All after posting strong sales growth and solid guidance. And it could easily see higher highs.

For its fourth quarter, the company posted sales of $50 million, as compared to the $27.3 million posted a year earlier. For full-year 2023, revenue jumped to $161 million from $54.6 million year over year, an increase of 195%. The company also booked an adjusted EBITDA loss of $14 million, as compared to estimates of $17 million.

“EVgo had a fantastic 2023 as we relentlessly focused on customer experience, a digital-first approach, and station development resulting in revenue growth that nearly tripled,” said Badar Khan, EVgo’s CEO, said in a statement

“Our throughput growth continues to significantly exceed growth in EVs in operation. We added over 930 new stalls during the year including opening the first NEVI-funded site in the U.S. in London, Ohio with the Pilot Company and GM.”

From its current price of $3.02, I’d like to see EVGO retest $3.80 initially.

Beam Global (BEEM)

Electric car backlit by cyan blue neon light next to EV charger with cyan blue light and lightning bolt symbol, all against a black background. ev stocks


Another hot EV charging stock to keep an eye on is Beam Global (NASDAQ:BEEM). Since mid-January, BEEM stock ran from about $5.50 to a high of $8.50 on news of new orders from the U.S. government. Now consolidating at $6.87, I’d like to see it retest its high of $8.50 again shortly. 

So far, it announced a $4.8 million deal with Homeland Security, and a $7.4 million deal with the U.S. Army. It was even awarded city contracts with San Diego and Los Angeles. Now, after acquiring Serbian streetlight company, Amiga, it’s set to expand throughout Europe.

As noted by Seeking Alpha, “Management expects Amiga to be accretive to earnings, as the company was profitable in 2022 with annual revenue of about $9 million. Amiga will serve as a launching pad for ARC 2000 sales in Europe as well as for BEEM’s yet-to-be-introduced EV-Standard product, a grid-connected streetlight with EV charging and energy storage emergency power from solar, and wind.”

Blink Charging (BLNK)

a blink charging station, BLNK stock

Source: David Tonelson/

Blink Charging (NASDAQ:BLNK) is showing signs of life, too. Since the start of February, BLNK ran from about $2.20 per share to a high of $3.60 per share. It’s now consolidating at $3.12. From here, I’d eventually like to see it retest prior resistance around $4.60 initially.

Ahead of earnings on Mar. 14, the company said it expects to post fourth-quarter revenue greater than $42 million. It also expects to post full-year 2023 revenue greater than $140 million, which puts it above its prior range of $128 million to $133 million. It also reiterated its target of achieving positive EBITDA by December.

Brendan Jones, President and CEO, added, “We are excited about our record-breaking fourth-quarter and full-year 2023 revenue growth. We saw strong demand for both our equipment and services. This is the result of consistent and systematic steps that we took to strengthen our product portfolio and service offerings, supported by our vertical integration strategy and dedicated customer service team.”

On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Ian Cooper, a contributor to, has been analyzing stocks and options for web-based advisories since 1999.


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