Beam Global’s (BEEM) Hold Rating Reiterated at Needham & Company LLC

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports.

Beam Global Stock Down 8.3 %

NASDAQ:BEEM opened at $1.44 on Monday. The company’s 50 day moving average is $2.15 and its 200-day moving average is $3.22. Beam Global has a 12 month low of $1.40 and a 12 month high of $7.68. The firm has a market cap of $21.27 million, a price-to-earnings ratio of -1.48 and a beta of 1.27.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Friday, April 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.08). The firm had revenue of $11.94 million during the quarter, compared to the consensus estimate of $12.99 million. Beam Global had a negative return on equity of 19.09% and a negative net margin of 19.26%. Research analysts predict that Beam Global will post -0.67 EPS for the current fiscal year.

Institutional Trading of Beam Global

Hedge funds have recently added to or reduced their stakes in the business. Virtue Capital Management LLC increased its position in Beam Global by 400.0% in the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $158,000 after buying an additional 40,000 shares during the period. Northern Trust Corp grew its stake in shares of Beam Global by 51.6% in the fourth quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock worth $173,000 after acquiring an additional 18,628 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Beam Global during the fourth quarter worth $39,000. XTX Topco Ltd raised its stake in Beam Global by 106.0% during the 4th quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after purchasing an additional 21,548 shares during the last quarter. Finally, Green Alpha Advisors LLC boosted its holdings in Beam Global by 28.1% in the 4th quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock valued at $190,000 after purchasing an additional 13,162 shares during the period. 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.