Beam Global’s (BEEM) Hold Rating Reaffirmed at Freedom Broker

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reaffirmed by research analysts at Freedom Broker in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $1.50 price target on the stock. Freedom Broker’s price target would indicate a potential upside of 6.76% from the company’s previous close.

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

Beam Global Stock Down 1.7%

Shares of NASDAQ:BEEM traded down $0.03 during midday trading on Tuesday, hitting $1.41. 720,376 shares of the stock traded hands, compared to its average volume of 1,454,962. Beam Global has a one year low of $0.97 and a one year high of $4.04. The business’s 50 day moving average is $1.18 and its two-hundred day moving average is $1.41. The stock has a market capitalization of $31.80 million, a PE ratio of -1.73 and a beta of 1.43.

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

Institutional Trading of Beam Global

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Beam Global by 17.6% in the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after buying an additional 8,700 shares during the period. R Squared Ltd acquired a new stake in Beam Global in the 1st quarter valued at approximately $26,000. Two Sigma Investments LP acquired a new position in Beam Global during the 3rd quarter valued at $102,000. Green Alpha Advisors LLC bought a new stake in shares of Beam Global in the 2nd quarter worth approximately $53,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Beam Global in the fourth quarter valued at $61,000. Institutional investors own 26.59% of the company’s stock.

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.