Beam Global (NASDAQ:BEEM) Lowered to “Hold” Rating by Freedom Capital

Beam Global (NASDAQ:BEEM) was downgraded by stock analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

BEEM has been the topic of a number of other reports. Wall Street Zen raised Beam Global from a “strong sell” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Global in a report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Beam Global Price Performance

Shares of BEEM opened at $1.40 on Monday. The firm has a market capitalization of $31.08 million, a price-to-earnings ratio of -1.46 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.93 and a current ratio of 1.47. Beam Global has a one year low of $1.34 and a one year high of $4.04. The stock’s fifty day moving average is $1.61 and its 200-day moving average is $1.69.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). The business had revenue of $3.13 million for the quarter, compared to analyst estimates of $7.33 million. Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. Equities analysts anticipate that Beam Global will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Beam Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Beam Global in the 1st quarter valued at $26,000. Quadrature Capital Ltd purchased a new stake in shares of Beam Global during the 4th quarter worth about $61,000. Green Alpha Advisors LLC raised its stake in shares of Beam Global by 143.3% during the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock worth $71,000 after purchasing an additional 27,903 shares in the last quarter. Virtue Capital Management LLC raised its stake 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 acquiring an additional 46,527 shares in the last quarter. Finally, State Street Corp raised its stake in shares of 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 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.