Beam Global (NASDAQ:BEEM) Given Hold Rating at Needham & Company LLC

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

Separately, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Beam Global in a research report on Thursday.

Beam Global Stock Performance

Shares of NASDAQ BEEM opened at $6.20 on Thursday. Beam Global has a fifty-two week low of $5.00 and a fifty-two week high of $13.66. The firm has a market capitalization of $88.23 million, a PE ratio of -4.22 and a beta of 0.82. The stock’s 50-day simple moving average is $6.81 and its 200-day simple moving average is $6.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Beam Global by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 511,476 shares of the company’s stock valued at $3,626,000 after purchasing an additional 46,130 shares during the last quarter. Virtue Capital Management LLC acquired a new position in Beam Global in the fourth quarter valued at $71,000. OLD Mission Capital LLC acquired a new position in Beam Global in the fourth quarter valued at $75,000. Pathstone Holdings LLC acquired a new position in shares of Beam Global in the 4th quarter valued at about $186,000. Finally, Northern Trust Corp lifted its position in Beam Global by 51.2% during the 4th quarter. Northern Trust Corp now owns 40,254 shares of the company’s stock worth $285,000 after acquiring an additional 13,630 shares in the last quarter. Institutional investors and hedge funds own 26.59% of the company’s stock.

About Beam Global

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging infrastructure, energy storage, energy security, disaster preparedness, and outdoor media advertising. The company's product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.