Beam Global (NASDAQ:BEEM) Stock Price Down 4.6% – What’s Next?

Shares of Beam Global (NASDAQ:BEEM) traded down 4.6% on Tuesday . The stock traded as low as $2.83 and last traded at $2.88. 384,852 shares were traded during mid-day trading, an increase of 181% from the average session volume of 136,933 shares. The stock had previously closed at $3.02.

Analyst Ratings Changes

BEEM has been the subject of several analyst reports. B. Riley cut their price target on Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. HC Wainwright cut their price objective on shares of Beam Global from $30.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a report on Monday, November 18th.

Beam Global Stock Performance

The firm has a market cap of $40.78 million, a price-to-earnings ratio of -3.02 and a beta of 0.80. The business has a fifty day moving average of $4.36 and a two-hundred day moving average of $5.08.

Hedge Funds Weigh In On Beam Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEEM. Vanguard Group Inc. grew its stake in Beam Global by 21.0% in the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after acquiring an additional 107,200 shares during the period. Oak Family Advisors LLC increased its stake in Beam Global by 11.0% in the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after purchasing an additional 5,181 shares during the last quarter. Green Alpha Advisors LLC lifted its position in Beam Global by 16.1% during the third quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock worth $230,000 after buying an additional 6,500 shares during the period. XTX Topco Ltd acquired a new stake in Beam Global in the 2nd quarter worth about $48,000. Finally, Calton & Associates Inc. purchased a new stake in Beam Global in the 3rd quarter valued at about $93,000. Institutional investors and hedge funds 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.