Beam Global (NASDAQ:BEEM) Receives $4.00 Consensus Price Target from Brokerages

Shares of Beam Global (NASDAQ:BEEM) have earned an average rating of “Reduce” from the three ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and two have assigned a hold rating to the company.

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Beam Global from a “hold” rating to a “sell” rating in a research report on Saturday. Freedom Capital lowered shares of Beam Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th.

Beam Global Price Performance

Shares of Beam Global stock opened at $1.43 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.93 and a current ratio of 1.47. The firm’s 50-day simple moving average is $1.60 and its 200-day simple moving average is $1.67. Beam Global has a twelve month low of $1.33 and a twelve month high of $4.04. The firm has a market cap of $31.75 million, a P/E ratio of -1.49 and a beta of 1.48.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Friday, May 15th. The company reported ($0.33) earnings per share 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 business had revenue of $3.13 million for the quarter, compared to analyst estimates of $7.33 million. As a group, research analysts expect that Beam Global will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Beam Global by 8.8% in the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after buying an additional 53,640 shares in the last quarter. Renaissance Technologies LLC boosted its position in Beam Global by 268.0% in the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $186,000 after buying an additional 90,300 shares in the last quarter. T3 Companies LLC acquired a new position in Beam Global in the fourth quarter valued at about $165,000. State Street Corp boosted its position in Beam Global by 17.6% in the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after buying an additional 8,700 shares in the last quarter. Finally, Virtue Capital Management LLC boosted its position in Beam Global by 1,339.7% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after buying an additional 46,527 shares in the last quarter. 26.59% of the stock is currently owned by institutional investors and hedge funds.

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.