Beam Global (NASDAQ:BEEM) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Beam Global (NASDAQ:BEEM) in a report published on Friday,Benzinga reports.

Beam Global Stock Performance

Shares of NASDAQ:BEEM opened at $1.70 on Friday. The firm has a market cap of $26.34 million, a PE ratio of -1.75 and a beta of 1.37. The firm’s fifty day moving average is $1.77 and its 200-day moving average is $2.68. Beam Global has a 52 week low of $1.33 and a 52 week high of $7.68.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.16). The business had revenue of $6.32 million for the quarter, compared to analyst estimates of $8.00 million. Beam Global had a negative return on equity of 19.09% and a negative net margin of 19.26%. During the same quarter last year, the firm posted ($0.21) EPS. Sell-side analysts forecast that Beam Global will post -0.67 EPS for the current year.

Hedge Funds Weigh In On Beam Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Shufro Rose & Co. LLC acquired a new position in Beam Global in the first quarter valued at $31,000. Virtue Capital Management LLC lifted its holdings in Beam Global by 400.0% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $158,000 after buying an additional 40,000 shares during the period. Northern Trust Corp lifted its holdings in Beam Global by 51.6% in the fourth quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock valued at $173,000 after buying an additional 18,628 shares during the period. Dimensional Fund Advisors LP acquired a new position in Beam Global in the fourth quarter valued at $39,000. Finally, XTX Topco Ltd lifted its holdings in Beam Global by 106.0% in the fourth quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after buying an additional 21,548 shares during the period. 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.