Beam Global (NASDAQ:BEEM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Beam Global (NASDAQ:BEEM) from a strong sell rating to a hold rating in a research report sent to investors on Monday.

Several other equities research analysts also recently weighed in on BEEM. Zacks Research downgraded shares of Beam Global from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 29th. Freedom Capital raised shares of Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Weiss Ratings downgraded shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. One investment 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. According to MarketBeat.com, Beam Global presently has a consensus rating of “Hold” and a consensus price target of $1.50.

Beam Global Price Performance

NASDAQ BEEM opened at $1.71 on Monday. The company has a market cap of $38.70 million, a P/E ratio of -2.09 and a beta of 1.43. The stock has a 50-day moving average of $1.19 and a two-hundred day moving average of $1.41. Beam Global has a 1-year low of $0.97 and a 1-year high of $4.04.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Wednesday, August 19th. The company reported ($0.14) earnings per share (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 business had revenue of $8.56 million for the quarter, compared to analysts’ expectations of $8.19 million. On average, analysts anticipate that Beam Global will post -0.77 EPS for the current fiscal year.

Institutional Trading of Beam Global

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Beam Global in the first quarter worth approximately $26,000. Two Sigma Investments LP acquired a new position in Beam Global during the 3rd quarter worth approximately $102,000. Green Alpha Advisors LLC purchased a new stake in shares of Beam Global in the 2nd quarter valued at approximately $53,000. Quadrature Capital Ltd purchased a new stake in shares of Beam Global in the 4th quarter valued at approximately $61,000. Finally, Virtue Capital Management LLC raised its holdings in shares of Beam Global by 1,339.7% in the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after purchasing an additional 46,527 shares in the last quarter. 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.