Brokerages Set Beam Global (NASDAQ:BEEM) PT at $4.00

Shares of Beam Global (NASDAQ:BEEM) have been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $4.00.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Global in a research note on Wednesday, January 21st.

Beam Global Stock Down 4.0%

BEEM opened at $1.44 on Wednesday. Beam Global has a fifty-two week low of $1.33 and a fifty-two week high of $4.04. The firm has a market capitalization of $27.40 million, a P/E ratio of -0.75 and a beta of 1.33. The company’s 50-day moving average is $1.61 and its 200 day moving average is $2.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.98 and a quick ratio of 0.97.

Hedge Funds Weigh In On Beam Global

Several institutional investors and hedge funds have recently bought and sold shares of BEEM. Quadrature Capital Ltd bought a new stake in shares of Beam Global in the fourth quarter valued at $61,000. Green Alpha Advisors LLC increased its holdings in Beam Global by 143.3% in the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock worth $71,000 after acquiring an additional 27,903 shares during the last quarter. Virtue Capital Management LLC increased its holdings 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 acquiring an additional 46,527 shares during the last quarter. State Street Corp raised its stake in Beam Global by 17.6% in the 4th quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after acquiring an additional 8,700 shares during the period. Finally, Two Sigma Investments LP bought a new stake in Beam Global in the 3rd quarter valued at about $102,000. 26.59% of the stock is owned by 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.