Freedom Broker Reaffirms “Hold” Rating for Beam Global (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reissued by research analysts at Freedom Broker in a research report issued on Tuesday,Benzinga reports. They presently have a $1.50 target price on the stock. Freedom Broker’s price objective would indicate a potential upside of 6.76% from the company’s current price.

A number of other brokerages also recently weighed in on BEEM. Wall Street Zen raised shares of Beam Global from a “strong sell” rating to a “hold” rating in a research note on Monday. Freedom Capital raised Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Zacks Research cut Beam Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings cut shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $1.50.

Beam Global Trading Down 1.7%

Shares of BEEM traded down $0.03 during mid-day trading on Tuesday, reaching $1.41. The company’s stock had a trading volume of 720,376 shares, compared to its average volume of 1,454,962. Beam Global has a 1-year low of $0.97 and a 1-year high of $4.04. The business has a 50-day simple moving average of $1.18 and a two-hundred day simple moving average of $1.41. The stock has a market cap of $31.80 million, a P/E ratio of -1.73 and a beta of 1.43.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Wednesday, August 19th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.06. Beam Global had a negative net margin of 64.60% and a negative return on equity of 73.59%. The company had revenue of $8.56 million for the quarter, compared to analysts’ expectations of $8.19 million. Research analysts anticipate that Beam Global will post -0.77 EPS for the current year.

Institutional Investors Weigh In On Beam Global

A number of large investors have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Beam Global during the first quarter valued at approximately $26,000. Two Sigma Investments LP bought a new position in shares of Beam Global in the third quarter worth approximately $102,000. Green Alpha Advisors LLC bought a new stake in shares of Beam Global during the 2nd quarter valued at $53,000. Quadrature Capital Ltd bought a new position in Beam Global in the 4th quarter worth $61,000. Finally, Virtue Capital Management LLC increased its stake in Beam Global by 1,339.7% in the 4th 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 in the last quarter. 26.59% of the stock is currently owned by institutional investors.

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.