Beam Global (NASDAQ:BEEM) Trading Down 1% – Here’s What Happened

Beam Global (NASDAQ:BEEM)’s stock price was down 1% on Tuesday . The stock traded as low as $1.00 and last traded at $1.04. 284,849 shares were traded during mid-day trading, a decline of 53% from the average session volume of 602,032 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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. Freedom Capital upgraded shares of Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Beam Global from a “strong sell” rating to a “sell” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Beam Global Trading Down 1.0%

The firm has a market capitalization of $23.09 million, a P/E ratio of -1.08 and a beta of 1.42. The stock’s 50-day simple moving average is $1.26 and its two-hundred day simple moving average is $1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.47 and a quick ratio of 0.67.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.15). Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. The firm had revenue of $3.13 million for the quarter, compared to the consensus estimate of $7.33 million. Equities research analysts expect that Beam Global will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Beam Global

A number of institutional investors and hedge funds have recently bought and sold shares of BEEM. R Squared Ltd bought a new position in shares of Beam Global in the first quarter worth about $26,000. Quadrature Capital Ltd bought a new stake in Beam Global during the 4th quarter valued at approximately $61,000. Virtue Capital Management LLC raised its stake in 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 purchasing an additional 46,527 shares during the period. State Street Corp lifted its holdings in Beam Global by 17.6% in the 4th quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Beam Global in the 3rd quarter worth approximately $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.