Beam Global (NASDAQ:BEEM) Sees Large Increase in Short Interest

Beam Global (NASDAQ:BEEM) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 3,367,923 shares, an increase of 208.9% from the December 31st total of 1,090,427 shares. Approximately 18.7% of the shares of the stock are sold short. Based on an average daily volume of 6,001,464 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 6,001,464 shares, the days-to-cover ratio is presently 0.6 days. Approximately 18.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Global in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.00.

Beam Global Trading Down 7.0%

Shares of BEEM stock opened at $1.60 on Friday. The firm has a market capitalization of $30.45 million, a P/E ratio of -0.84 and a beta of 1.34. Beam Global has a twelve month low of $1.33 and a twelve month high of $4.04. The company has a quick ratio of 0.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $1.74 and its 200 day simple moving average is $2.30.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). Beam Global had a negative net margin of 105.89% and a negative return on equity of 61.03%. The firm had revenue of $5.79 million during the quarter, compared to analyst estimates of $8.45 million. As a group, sell-side analysts predict that Beam Global will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Institutional investors have recently made changes to their positions in the stock. Green Alpha Advisors LLC boosted its holdings in Beam Global by 143.3% in the fourth quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after acquiring an additional 27,903 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Beam Global in the 3rd quarter worth approximately $102,000. Finally, Vanguard Group Inc. boosted its stake in shares of Beam Global by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after purchasing an additional 53,640 shares during the last quarter. Institutional investors own 26.59% of the company’s stock.

About Beam Global

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.