Wall Street Zen Upgrades Beam Global (NASDAQ:BEEM) to Hold

Beam Global (NASDAQ:BEEM) was upgraded by Wall Street Zen from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other research analysts also recently weighed in on the company. Zacks Research downgraded Beam Global from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Finally, Freedom Capital upgraded shares of Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $1.50.

Beam Global Stock Down 4.9%

BEEM opened at $1.36 on Monday. The stock has a market cap of $30.78 million, a price-to-earnings ratio of -1.66 and a beta of 1.43. Beam Global has a twelve month low of $0.97 and a twelve month high of $4.04. The company’s 50-day moving average price is $1.19 and its two-hundred day moving average price is $1.41.

Beam Global (NASDAQ:BEEM) last released its earnings results on Wednesday, August 19th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. Beam Global had a negative net margin of 64.60% and a negative return on equity of 73.59%. The firm had revenue of $8.56 million during the quarter, compared to the consensus estimate of $8.19 million. As a group, sell-side analysts anticipate that Beam Global will post -0.77 earnings per share for the current year.

Institutional Trading of Beam Global

A number of hedge funds and other institutional investors have recently made changes to their positions in BEEM. Harraden Circle Investments LLC bought a new position in Beam Global in the 2nd quarter worth about $43,400,000. BlackRock Inc. bought a new stake in shares of Beam Global during the second quarter valued at about $288,000. T3 Companies LLC bought a new stake in shares of Beam Global during the fourth quarter valued at about $165,000. Lineage Point Capital LP purchased a new stake in shares of Beam Global in the second quarter worth about $1,000,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Beam Global by 268.0% in the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $186,000 after buying an additional 90,300 shares in the last quarter. 26.59% of the stock is currently owned by 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.