Roth Mkm Reiterates Buy Rating for Beam Global (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM)‘s stock had its “buy” rating restated by analysts at Roth Mkm in a research note issued on Tuesday, Benzinga reports. They currently have a $9.00 target price on the stock. Roth Mkm’s price objective points to a potential upside of 42.18% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Thursday, April 18th. B. Riley dropped their target price on Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Beam Global in a research report on Thursday, April 18th.

Beam Global Stock Performance

BEEM opened at $6.33 on Tuesday. The firm has a 50 day moving average price of $6.68 and a 200 day moving average price of $6.47. The company has a market cap of $91.41 million, a PE ratio of -4.31 and a beta of 0.82. Beam Global has a 1 year low of $5.00 and a 1 year high of $13.66.

Beam Global (NASDAQ:BEEM) last released its earnings results on Tuesday, April 16th. The company reported ($0.51) EPS for the quarter. The business had revenue of $20.03 million for the quarter. Beam Global had a negative net margin of 23.84% and a negative return on equity of 36.71%. On average, sell-side analysts predict that Beam Global will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Beam Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pathstone Family Office LLC grew its position in Beam Global by 13.9% in the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock worth $139,000 after acquiring an additional 2,305 shares in the last quarter. Oak Family Advisors LLC raised its stake in Beam Global by 26.7% during the 1st quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock valued at $320,000 after purchasing an additional 9,921 shares during the last quarter. PFG Investments LLC raised its stake in Beam Global by 97.0% during the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock valued at $157,000 after purchasing an additional 11,348 shares during the last quarter. Barclays PLC acquired a new position in Beam Global during the 3rd quarter valued at $128,000. Finally, Jump Financial LLC acquired a new position in Beam Global during the 3rd quarter valued at $130,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

About Beam Global

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.