Short Interest in Beam Global (NASDAQ:BEEM) Grows By 208.9%

Beam Global (NASDAQ:BEEM) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 3,367,923 shares, a growth of 208.9% from the December 31st total of 1,090,427 shares. Approximately 18.7% of the company’s shares are short sold. Based on an average daily volume of 6,001,464 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 6,001,464 shares, the short-interest ratio is currently 0.6 days. Approximately 18.7% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Global in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.00.

Hedge Funds Weigh In On Beam Global

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Beam Global by 8.8% in the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after acquiring an additional 53,640 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Beam Global by 143.3% in the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after purchasing an additional 27,903 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Beam Global in the 3rd quarter valued at approximately $102,000. 26.59% of the stock is owned by institutional investors and hedge funds.

Beam Global Price Performance

Beam Global stock opened at $1.72 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.01. Beam Global has a 52-week low of $1.33 and a 52-week high of $4.04. The firm has a market cap of $32.73 million, a PE ratio of -0.90 and a beta of 1.34. The company’s 50 day moving average is $1.74 and its two-hundred day moving average is $2.31.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $5.79 million for the quarter, compared to analysts’ expectations of $8.45 million. Beam Global had a negative return on equity of 61.03% and a negative net margin of 105.89%. On average, research analysts expect that Beam Global will post -0.67 EPS for the current fiscal year.

Beam Global Company Profile

Beam Global (NASDAQ:BEEM) is a developer of solar-powered infrastructure solutions designed to support the transition to clean energy and electric transportation. Headquartered in California, the company specializes in producing off-grid EV charging units, solar canopy systems and energy storage solutions that can be rapidly deployed in urban, rural and remote environments. By integrating photovoltaic panels with battery storage and charging hardware, Beam Global’s products aim to reduce reliance on grid power and lower carbon emissions at charging locations.

The company’s flagship product, EV ARC, is a standalone, solar-powered electric vehicle fast-charging kiosk that requires no construction, trenching or utility upgrades.