Beam Global (NASDAQ:BEEM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Beam Global (NASDAQ:BEEM) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.3333.

BEEM has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a research note on Friday. Maxim Group dropped their price target on shares of Beam Global from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. B. Riley reduced their price objective on Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, May 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of Beam Global in a research report on Tuesday, May 20th.

Beam Global Stock Performance

Beam Global stock opened at $2.32 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.84 and a quick ratio of 0.92. The company has a fifty day moving average price of $1.99 and a two-hundred day moving average price of $1.97. The company has a market cap of $35.80 million, a PE ratio of -1.51 and a beta of 1.26. Beam Global has a 12 month low of $1.33 and a 12 month high of $5.90.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $7.08 million for the quarter, compared to analysts’ expectations of $7.25 million. Beam Global had a negative net margin of 69.33% and a negative return on equity of 32.39%. Research analysts expect that Beam Global will post -0.67 earnings per share for the current year.

Institutional Trading of Beam Global

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP bought a new stake in shares of Beam Global in the 4th quarter valued at about $39,000. Shufro Rose & Co. LLC acquired a new position in shares of Beam Global during the 1st quarter worth about $31,000. Northern Trust Corp boosted its holdings in shares of Beam Global by 51.6% in the 4th 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 last quarter. XTX Topco Ltd grew its holdings in Beam Global by 106.0% during the fourth quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock worth $133,000 after purchasing an additional 21,548 shares during the period. Finally, Virtue Capital Management LLC boosted its position in Beam Global by 400.0% during the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $158,000 after purchasing an additional 40,000 shares during the period. Institutional investors 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.