Q1 2024 EPS Estimates for Beam Global Reduced by Roth Capital (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – Analysts at Roth Capital decreased their Q1 2024 EPS estimates for Beam Global in a research note issued on Tuesday, April 23rd. Roth Capital analyst C. Irwin now anticipates that the company will post earnings per share of ($0.30) for the quarter, down from their prior forecast of ($0.24). The consensus estimate for Beam Global’s current full-year earnings is ($0.72) per share. Roth Capital also issued estimates for Beam Global’s Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.80) EPS and FY2025 earnings at $0.15 EPS.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Tuesday, April 16th. The company reported ($0.51) earnings per share (EPS) for the quarter. Beam Global had a negative return on equity of 36.71% and a negative net margin of 23.84%. The business had revenue of $20.03 million during the quarter.

BEEM has been the topic of a number of other research reports. B. Riley cut their target price on shares of Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Beam Global in a report on Thursday, April 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a report on Thursday, April 18th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $9.00 price target on shares of Beam Global in a report on Tuesday.

Beam Global Price Performance

Shares of NASDAQ BEEM opened at $6.33 on Thursday. The firm’s 50-day moving average price is $6.68 and its two-hundred day moving average price is $6.47. Beam Global has a 52-week low of $5.00 and a 52-week high of $13.66.

Institutional Investors Weigh In On Beam Global

A number of hedge funds have recently made changes to their positions in BEEM. AWM Investment Company Inc. raised its holdings in shares of Beam Global by 39.4% during the third quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock valued at $4,372,000 after buying an additional 167,363 shares during the last quarter. Oak Family Advisors LLC bought a new stake in Beam Global during the fourth quarter worth approximately $264,000. Calton & Associates Inc. bought a new stake in Beam Global during the third quarter worth approximately $143,000. Jump Financial LLC bought a new stake in Beam Global during the third quarter worth approximately $130,000. Finally, Barclays PLC bought a new stake in Beam Global during the third quarter worth approximately $128,000. Institutional investors own 26.59% of the company’s stock.

Beam Global Company Profile

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.