Beam Global (NASDAQ:BEEM) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Beam Global (NASDAQ:BEEM) in a research note published on Thursday, Benzinga reports.

Separately, HC Wainwright reaffirmed a buy rating and issued a $30.00 price objective on shares of Beam Global in a research note on Thursday.

Beam Global Stock Up 3.2 %

Shares of Beam Global stock opened at $6.40 on Thursday. Beam Global has a 52-week low of $5.00 and a 52-week high of $13.66. The company has a fifty day moving average of $6.79 and a 200-day moving average of $6.49.

Institutional Investors Weigh In On Beam Global

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Beam Global by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 511,476 shares of the company’s stock valued at $3,626,000 after buying an additional 46,130 shares during the period. Virtue Capital Management LLC purchased a new stake in Beam Global during the 4th quarter valued at $71,000. OLD Mission Capital LLC purchased a new stake in Beam Global during the 4th quarter valued at $75,000. Pathstone Holdings LLC purchased a new stake in Beam Global during the 4th quarter valued at $186,000. Finally, Northern Trust Corp lifted its position in shares of Beam Global by 51.2% in the 4th quarter. Northern Trust Corp now owns 40,254 shares of the company’s stock worth $285,000 after purchasing an additional 13,630 shares during the period. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Company Profile

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging infrastructure, energy storage, energy security, disaster preparedness, and outdoor media advertising. The company's product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide 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 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.