Roth Capital Comments on Beam Global’s Q1 2024 Earnings (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – Equities research analysts at Roth Capital cut their Q1 2024 earnings per share estimates for shares of Beam Global in a report released on Tuesday, April 23rd. Roth Capital analyst C. Irwin now anticipates that the company will post earnings per share of ($0.30) for the quarter, down from their prior estimate of ($0.24). The consensus estimate for Beam Global’s current full-year earnings is ($0.72) per share. Roth Capital also issued estimates for Beam Global’s Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.80) EPS and FY2025 earnings at $0.15 EPS.

Beam Global (NASDAQ:BEEM) last posted its quarterly 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%.

BEEM has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Beam Global in a report on Thursday, April 18th. B. Riley reduced their target price on Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a report on Thursday, April 18th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $9.00 target price on shares of Beam Global in a report on Tuesday.

Beam Global Stock Up 1.6 %

NASDAQ:BEEM opened at $6.43 on Thursday. The business’s 50-day simple moving average is $6.65 and its two-hundred day simple moving average is $6.47. The stock has a market cap of $92.85 million, a PE ratio of -4.37 and a beta of 0.82. Beam Global has a 52 week low of $5.00 and a 52 week high of $13.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. grew its position in Beam Global by 39.4% in the third quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock worth $4,372,000 after acquiring an additional 167,363 shares in the last quarter. Oak Family Advisors LLC grew its position in Beam Global by 26.7% in the first quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock worth $320,000 after acquiring an additional 9,921 shares in the last quarter. PFG Investments LLC grew its position in Beam Global by 97.0% in the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after acquiring an additional 11,348 shares in the last quarter. Calton & Associates Inc. purchased a new position in shares of Beam Global during the third quarter valued at approximately $143,000. Finally, Pathstone Family Office LLC boosted its position in shares of Beam Global by 13.9% during the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock valued at $139,000 after buying an additional 2,305 shares during the period. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Company Profile

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.