Beam Global (NASDAQ:BEEM) Rating Lowered to “Hold” at Freedom Capital

Beam Global (NASDAQ:BEEM) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

BEEM has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Global in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Beam Global from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 11th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

Beam Global Stock Down 2.1%

Beam Global stock opened at $1.40 on Monday. The firm has a market cap of $31.08 million, a PE ratio of -1.46 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.93 and a current ratio of 1.47. The firm’s 50 day moving average price is $1.61 and its two-hundred day moving average price is $1.69. Beam Global has a twelve month low of $1.34 and a twelve month high of $4.04.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.15). The company had revenue of $3.13 million during the quarter, compared to analyst estimates of $7.33 million. Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. On average, research analysts predict that Beam Global will post -0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BEEM. State Street Corp boosted its holdings in shares of Beam Global by 17.6% during the 4th quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after buying an additional 8,700 shares during the period. R Squared Ltd bought a new stake in Beam Global in the 1st quarter valued at $26,000. Green Alpha Advisors LLC boosted its holdings in 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 period. Two Sigma Investments LP bought a new position in shares of Beam Global during the 3rd quarter worth about $102,000. Finally, Quadrature Capital Ltd bought a new position in shares of Beam Global during the 4th quarter worth about $61,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

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.