Beam Global (NASDAQ:BEEM) Upgraded at Zacks Research

Beam Global (NASDAQ:BEEM) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Other equities research analysts also recently issued reports about the stock. Freedom Capital raised shares of Beam Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Freedom Broker lowered Beam Global from a “buy” rating to a “hold” rating and set a $1.50 target price for the company. in a research note on Tuesday, August 25th. Weiss Ratings cut shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 10th. Finally, Wall Street Zen downgraded shares of Beam Global from a “hold” rating to a “sell” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1.50.

Beam Global Stock Performance

NASDAQ:BEEM opened at $1.38 on Monday. The firm has a market capitalization of $31.23 million, a price-to-earnings ratio of -1.68 and a beta of 1.48. The stock has a fifty day moving average of $1.23 and a 200 day moving average of $1.40. Beam Global has a 52-week low of $0.97 and a 52-week high of $4.04.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06. Beam Global had a negative return on equity of 73.59% and a negative net margin of 64.60%.The firm had revenue of $8.56 million for the quarter, compared to analysts’ expectations of $8.19 million. Equities analysts forecast that Beam Global will post -0.77 earnings per share 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. Readystate Asset Management LP purchased a new stake in Beam Global during the 2nd quarter valued at about $562,000. Harraden Circle Investments LLC purchased a new position in Beam Global in the 2nd quarter worth approximately $43,400,000. Lineage Point Capital LP bought a new stake in Beam Global in the second quarter valued at approximately $1,000,000. Green Alpha Advisors LLC bought a new stake in Beam Global in the second quarter valued at approximately $53,000. Finally, BlackRock Inc. purchased a new stake in shares of Beam Global during the second quarter valued at approximately $288,000. Institutional investors 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.