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

Beam Global (NASDAQ:BEEM) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Wall Street Zen reports.

Several other research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Beam Global from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Freedom Broker lowered Beam Global from a “buy” rating to a “hold” rating and set a $1.50 price objective for the company. in a research note on Tuesday, August 25th. Weiss Ratings raised Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Finally, Freedom Capital upgraded Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Beam Global currently has a consensus rating of “Hold” and an average price target of $1.50.

Beam Global Stock Up 0.7%

Beam Global stock opened at $1.40 on Tuesday. The business’s 50-day moving average price is $1.20 and its 200 day moving average price is $1.41. The firm has a market cap of $31.68 million, a price-to-earnings ratio of -1.71 and a beta of 1.48. Beam Global has a 52 week low of $0.97 and a 52 week high of $4.04.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $8.56 million during the quarter, compared to the consensus estimate of $8.19 million. Beam Global had a negative net margin of 64.60% and a negative return on equity of 73.59%. Equities analysts expect that Beam Global will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Beam Global

A number of institutional investors have recently bought and sold shares of BEEM. State Street Corp lifted its position in Beam Global by 17.6% in the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after buying an additional 8,700 shares during the last quarter. R Squared Ltd acquired a new position in Beam Global during the first quarter worth $26,000. Two Sigma Investments LP acquired a new position in Beam Global during the third quarter worth $102,000. Green Alpha Advisors LLC acquired a new position in Beam Global during the second quarter worth $53,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Beam Global during the fourth quarter worth $61,000. 26.59% of the stock is owned by hedge funds and other institutional investors.

About Beam Global

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.