Beam Global (NASDAQ:BEEM) Downgraded to Strong Sell Rating by Zacks Research

Beam Global (NASDAQ:BEEM) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wall Street Zen raised shares of Beam Global from a “strong sell” rating to a “sell” rating in a report on Monday, June 8th. Freedom Capital upgraded Beam Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Weiss Ratings raised Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Beam Global currently has a consensus rating of “Hold”.

Beam Global Stock Performance

Shares of NASDAQ BEEM opened at $1.04 on Wednesday. The company has a 50 day simple moving average of $1.24 and a two-hundred day simple moving average of $1.47. The stock has a market cap of $23.09 million, a price-to-earnings ratio of -1.08 and a beta of 1.42. The company has a current ratio of 1.47, a quick ratio of 0.67 and a debt-to-equity ratio of 0.01. Beam Global has a 12 month low of $0.97 and a 12 month high of $4.04.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%.The business had revenue of $3.13 million during the quarter, compared to analyst estimates of $7.33 million. As a group, analysts predict that Beam Global will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Beam Global

Hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Beam Global in the first quarter valued at approximately $26,000. Two Sigma Investments LP acquired a new position in shares of Beam Global during the 3rd quarter worth approximately $102,000. Quadrature Capital Ltd acquired a new position in shares of Beam Global during the 4th quarter worth approximately $61,000. Virtue Capital Management LLC lifted its position in shares of Beam Global by 1,339.7% during the 4th 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. Finally, 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 valued at $87,000 after buying an additional 8,700 shares in the last quarter. Hedge funds and other 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.