Beam Global (NASDAQ:BEEM) Receives $5.33 Consensus Target Price from Analysts

Shares of Beam Global (NASDAQ:BEEM) have earned an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.3333.

Several brokerages have recently commented on BEEM. Citigroup reaffirmed a “buy” rating on shares of Beam Global in a report on Tuesday, May 20th. Maxim Group reduced their target price on Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a report on Monday, May 19th. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a research note on Friday, August 15th. Finally, B. Riley lowered their target price on Beam Global from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, May 20th.

Hedge Funds Weigh In On Beam Global

Several institutional investors and hedge funds have recently modified their holdings of BEEM. Dimensional Fund Advisors LP acquired a new position in Beam Global during the fourth quarter worth $39,000. Northern Trust Corp boosted its stake in shares of Beam Global by 51.6% during the 4th quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock worth $173,000 after acquiring an additional 18,628 shares in the last quarter. Virtue Capital Management LLC increased its holdings in shares of Beam Global by 400.0% during the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $158,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Shufro Rose & Co. LLC bought a new position in shares of Beam Global in the 1st quarter valued at approximately $31,000. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Beam Global Price Performance

Shares of NASDAQ:BEEM opened at $2.35 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.77 and a quick ratio of 0.88. The stock has a market cap of $41.45 million, a price-to-earnings ratio of -1.53 and a beta of 1.32. The stock’s 50 day moving average price is $2.42 and its 200 day moving average price is $1.98. Beam Global has a 12 month low of $1.33 and a 12 month high of $5.57.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.01. Beam Global had a negative net margin of 69.33% and a negative return on equity of 34.97%. The firm had revenue of $7.08 million for the quarter, compared to analysts’ expectations of $7.25 million. Equities research analysts anticipate that Beam Global will post -0.67 earnings per share for the current fiscal year.

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.