Beam Global (NASDAQ:BEEM) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Beam Global (NASDAQ:BEEM) in a research report report published on Wednesday, Benzinga reports.

Several other research firms have also recently weighed in on BEEM. HC Wainwright reiterated a buy rating and issued a $30.00 price target on shares of Beam Global in a report on Wednesday. Roth Mkm reiterated a buy rating and issued a $9.00 price target on shares of Beam Global in a report on Tuesday, April 23rd. Finally, B. Riley cut their price target on shares of Beam Global from $18.00 to $15.00 and set a buy rating on the stock in a report on Thursday, April 18th.

Beam Global Stock Performance

BEEM stock opened at $6.23 on Wednesday. The company has a market capitalization of $90.58 million, a PE ratio of -4.79 and a beta of 0.92. Beam Global has a one year low of $5.00 and a one year high of $12.69. The company’s 50 day moving average price is $6.34 and its two-hundred day moving average price is $6.47.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Tuesday, April 16th. The company reported ($0.51) earnings per share (EPS) for the quarter. Beam Global had a negative return on equity of 30.53% and a negative net margin of 22.16%. The firm had revenue of $20.03 million during the quarter. On average, research analysts predict that Beam Global will post -0.84 EPS for the current year.

Institutional Trading of Beam Global

Hedge funds have recently modified their holdings of the business. Barclays PLC bought a new stake in shares of Beam Global during the 3rd quarter valued at $128,000. Jump Financial LLC bought a new stake in shares of Beam Global during the 3rd quarter valued at $130,000. Pathstone Family Office LLC boosted its holdings in shares of Beam Global by 13.9% during the 3rd quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock valued at $139,000 after buying an additional 2,305 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of Beam Global by 97.0% during the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock valued at $157,000 after buying an additional 11,348 shares in the last quarter. Finally, Oak Family Advisors LLC bought a new stake in shares of Beam Global during the 4th quarter valued at $264,000. Institutional investors own 26.59% of the company’s stock.

About Beam Global

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and 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 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.