Roth Mkm Reiterates Buy Rating for Beam Global (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM)‘s stock had its “buy” rating reiterated by equities research analysts at Roth Mkm in a report released on Tuesday, Benzinga reports. They presently have a $9.00 price objective on the stock. Roth Mkm’s price objective points to a potential upside of 42.18% from the company’s previous close.

Several other brokerages have also issued reports on BEEM. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Beam Global in a research report on Thursday, April 18th. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a report on Thursday, April 18th. Finally, B. Riley decreased their price objective on Beam Global from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, April 18th.

Beam Global Trading Down 4.1 %

Shares of NASDAQ:BEEM opened at $6.33 on Tuesday. The stock’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $6.47. Beam Global has a 1-year low of $5.00 and a 1-year high of $13.66. The stock has a market cap of $91.41 million, a PE ratio of -4.31 and a beta of 0.82.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings data on Tuesday, April 16th. The company reported ($0.51) earnings per share for the quarter. Beam Global had a negative net margin of 23.84% and a negative return on equity of 36.71%. The company had revenue of $20.03 million for the quarter. On average, sell-side analysts forecast that Beam Global will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Several large investors have recently added to or reduced their stakes in BEEM. Barclays PLC bought a new position in Beam Global in the 3rd quarter worth about $128,000. Jump Financial LLC bought a new position in Beam Global in the 3rd quarter worth about $130,000. Pathstone Family Office LLC boosted its stake in Beam Global by 13.9% in the 3rd quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock worth $139,000 after purchasing an additional 2,305 shares during the period. Calton & Associates Inc. bought a new position in Beam Global in the 3rd quarter worth about $143,000. Finally, PFG Investments LLC boosted its stake in Beam Global by 97.0% in the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after purchasing an additional 11,348 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 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.