Beam Global (NASDAQ:BEEM) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Beam Global (NASDAQ:BEEM) from a hold rating to a sell rating in a research note released on Tuesday morning,Wall Street Zen reports.

A number of other analysts have also weighed in on the company. Freedom Broker lowered Beam Global from a “buy” rating to a “hold” rating and set a $1.50 price objective on the stock. in a research report on Tuesday, August 25th. Zacks Research lowered Beam Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Weiss Ratings raised Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. Finally, Freedom Capital raised Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Beam Global presently has a consensus rating of “Hold” and a consensus target price of $1.50.

Beam Global Stock Performance

NASDAQ BEEM opened at $1.39 on Tuesday. The firm has a market cap of $31.46 million, a price-to-earnings ratio of -1.70 and a beta of 1.47. The firm has a 50 day simple moving average of $1.20 and a 200-day simple moving average of $1.41. Beam Global has a one year low of $0.97 and a one year high of $4.04.

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

Institutional Investors Weigh In On Beam Global

A number of hedge funds and other institutional investors have recently modified their holdings of BEEM. State Street Corp lifted its position in shares of Beam Global by 17.6% during 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 during the last quarter. R Squared Ltd purchased a new position in Beam Global in the first quarter valued at $26,000. Two Sigma Investments LP acquired a new stake in Beam Global in the third quarter valued at $102,000. Green Alpha Advisors LLC acquired a new stake in Beam Global in the second quarter valued at $53,000. Finally, Quadrature Capital Ltd purchased a new stake in Beam Global during the 4th quarter worth about $61,000. 26.59% of the stock is currently owned by institutional investors and hedge funds.

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.