Wall Street Zen Upgrades Beam Global (NASDAQ:BEEM) to “Sell”

Beam Global (NASDAQ:BEEM) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also issued reports on BEEM. Zacks Research lowered Beam Global from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Finally, Freedom Capital raised shares of Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Beam Global Stock Performance

NASDAQ BEEM opened at $1.14 on Friday. The firm has a market capitalization of $25.31 million, a P/E ratio of -1.19 and a beta of 1.43. Beam Global has a fifty-two week low of $0.97 and a fifty-two week high of $4.04. The stock has a 50-day simple moving average of $1.20 and a two-hundred day simple moving average of $1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.47.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). The firm had revenue of $3.13 million during the quarter, compared to analysts’ expectations of $7.33 million. Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. On average, equities analysts forecast that Beam Global will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Beam Global by 268.0% in the 4th 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 last quarter. Two Sigma Investments LP purchased a new stake in Beam Global in the third quarter valued at approximately $102,000. Vanguard Group Inc. lifted its stake in Beam Global by 8.8% during the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock worth $1,903,000 after purchasing an additional 53,640 shares in the last quarter. BlackRock Inc. acquired a new position in Beam Global during the second quarter worth $288,000. Finally, Virtue Capital Management LLC boosted its position in shares of Beam Global by 1,339.7% during the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $81,000 after buying an additional 46,527 shares during the period. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Company Profile

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.