Wall Street Zen Downgrades Beam Global (NASDAQ:BEEM) to Strong Sell

Beam Global (NASDAQ:BEEM) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Sunday.

Several other research firms also recently commented on BEEM. Zacks Research downgraded Beam Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Freedom Capital upgraded Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, Weiss Ratings downgraded Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Beam Global Price Performance

Shares of NASDAQ BEEM opened at $1.14 on Friday. Beam Global has a fifty-two week low of $0.97 and a fifty-two week high of $4.04. The company has a 50 day simple moving average of $1.17 and a two-hundred day simple moving average of $1.42. The company has a market capitalization of $25.31 million, a price-to-earnings ratio of -1.19 and a beta of 1.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.47.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). The company had revenue of $3.13 million during the quarter, compared to the consensus estimate of $7.33 million. Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%. Analysts expect that Beam Global will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Beam Global by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock worth $1,903,000 after acquiring an additional 53,640 shares during the last quarter. Two Sigma Investments LP bought a new position in Beam Global in the 3rd quarter valued at approximately $102,000. T3 Companies LLC purchased a new stake in Beam Global during the 4th quarter valued at $165,000. Renaissance Technologies LLC boosted its stake in Beam Global by 268.0% during the 4th quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $186,000 after purchasing an additional 90,300 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Beam Global by 17.6% in the 4th quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after purchasing an additional 8,700 shares in the last quarter. Institutional investors 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.