Beam Global (NASDAQ:BEEM) Receives Average Rating of “Hold” from Analysts

Shares of Beam Global (NASDAQ:BEEM) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.00.

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

Hedge Funds Weigh In On Beam Global

Several hedge funds have recently bought and sold shares of the company. T3 Companies LLC purchased a new position in Beam Global during the 4th quarter valued at about $165,000. Renaissance Technologies LLC increased its stake in Beam Global by 268.0% during the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $186,000 after purchasing an additional 90,300 shares during the period. Vanguard Group Inc. increased its stake in Beam Global by 8.8% during the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock worth $1,903,000 after purchasing an additional 53,640 shares during the period. Virtue Capital Management LLC lifted its position in shares of Beam Global by 1,339.7% during the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $81,000 after purchasing an additional 46,527 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Beam Global during the fourth quarter worth about $61,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Stock Down 4.0%

Beam Global stock opened at $1.44 on Wednesday. The company has a market capitalization of $27.40 million, a PE ratio of -0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.98. Beam Global has a fifty-two week low of $1.33 and a fifty-two week high of $4.04. The firm has a 50 day moving average price of $1.61 and a 200 day moving average price of $2.13.

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.