Beam Global (NASDAQ:BEEM) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Beam Global (NASDAQ:BEEM) released its quarterly earnings results on Friday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03), FiscalAI reports. The company had revenue of $5.79 million for the quarter, compared to the consensus estimate of $8.45 million. Beam Global had a negative net margin of 69.33% and a negative return on equity of 34.97%.

Beam Global Price Performance

BEEM traded up $0.01 during trading on Friday, reaching $1.82. 571,892 shares of the company traded hands, compared to its average volume of 544,089. The company has a market cap of $32.10 million, a P/E ratio of -1.18 and a beta of 1.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.88 and a current ratio of 1.77. Beam Global has a 12-month low of $1.33 and a 12-month high of $4.55. The firm has a fifty day simple moving average of $2.76 and a 200 day simple moving average of $2.24.

Analyst Upgrades and Downgrades

BEEM has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Global in a research report on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.33.

Hedge Funds Weigh In On Beam Global

A hedge fund recently raised its stake in Beam Global stock. Vanguard Group Inc. raised its stake in Beam Global (NASDAQ:BEEM) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 660,619 shares of the company’s stock after acquiring an additional 53,640 shares during the period. Vanguard Group Inc. owned approximately 3.75% of Beam Global worth $1,903,000 as of its most recent SEC filing. 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.