Beam Global (NASDAQ:BEEM) Given Consensus Rating of “Reduce” by Analysts

Beam Global (NASDAQ:BEEM) has earned an average recommendation of “Reduce” from the three brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and two have given a hold rating to the company.

Several brokerages recently issued reports on BEEM. Wall Street Zen cut Beam Global from a “hold” rating to a “sell” rating in a research report on Saturday. Freedom Capital cut Beam Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th.

Beam Global Trading Down 0.7%

NASDAQ:BEEM opened at $1.43 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.47 and a quick ratio of 0.93. Beam Global has a one year low of $1.33 and a one year high of $4.04. The company has a market cap of $31.75 million, a PE ratio of -1.49 and a beta of 1.48. The firm has a 50-day moving average of $1.60 and a 200-day moving average of $1.68.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). The company had revenue of $3.13 million for the quarter, compared to analyst estimates of $7.33 million. Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. As a group, equities research analysts expect that Beam Global will post -0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. T3 Companies LLC bought a new position in Beam Global during the fourth quarter valued at about $165,000. Renaissance Technologies LLC raised its position in Beam Global by 268.0% in the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $186,000 after acquiring an additional 90,300 shares during the period. Vanguard Group Inc. boosted its stake in Beam Global by 8.8% in the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after acquiring an additional 53,640 shares during the last quarter. Virtue Capital Management LLC grew its position in shares of Beam Global by 1,339.7% during the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after acquiring an additional 46,527 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Beam Global during the 4th quarter valued at approximately $61,000. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

About Beam Global

Beam Global (NASDAQ:BEEM) is a developer of solar-powered infrastructure solutions designed to support the transition to clean energy and electric transportation. Headquartered in California, the company specializes in producing off-grid EV charging units, solar canopy systems and energy storage solutions that can be rapidly deployed in urban, rural and remote environments. By integrating photovoltaic panels with battery storage and charging hardware, Beam Global’s products aim to reduce reliance on grid power and lower carbon emissions at charging locations.

The company’s flagship product, EV ARC, is a standalone, solar-powered electric vehicle fast-charging kiosk that requires no construction, trenching or utility upgrades.