$3.10 Million in Sales Expected for Beam Global (NASDAQ:BEEM) This Quarter

Equities research analysts expect Beam Global (NASDAQ:BEEMGet Rating) to announce $3.10 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Beam Global’s earnings, with the highest sales estimate coming in at $5.27 million and the lowest estimate coming in at $1.80 million. Beam Global reported sales of $1.37 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 126.3%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Beam Global will report full-year sales of $17.93 million for the current fiscal year, with estimates ranging from $13.80 million to $20.00 million. For the next financial year, analysts expect that the company will post sales of $44.25 million, with estimates ranging from $38.50 million to $50.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Beam Global.

Beam Global (NASDAQ:BEEMGet Rating) last announced its quarterly earnings results on Wednesday, March 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business had revenue of $3.49 million for the quarter, compared to analyst estimates of $2.93 million. Beam Global had a negative return on equity of 23.30% and a negative net margin of 73.28%. During the same quarter last year, the firm posted ($0.34) EPS.

In other news, CEO Desmond C. Wheatley sold 1,500 shares of the company’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $22.33, for a total transaction of $33,495.00. Following the completion of the sale, the chief executive officer now owns 74,422 shares in the company, valued at approximately $1,661,843.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.85% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in Beam Global by 110.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,152 shares of the company’s stock valued at $1,782,000 after purchasing an additional 45,665 shares in the last quarter. State Street Corp boosted its position in shares of Beam Global by 5.0% in the 1st quarter. State Street Corp now owns 317,710 shares of the company’s stock worth $6,497,000 after purchasing an additional 15,178 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Beam Global by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,011 shares of the company’s stock worth $471,000 after purchasing an additional 1,205 shares during the last quarter. Cetera Investment Advisers bought a new position in Beam Global during the first quarter worth about $436,000. Finally, BlackRock Inc. lifted its holdings in Beam Global by 3.4% during the first quarter. BlackRock Inc. now owns 561,382 shares of the company’s stock worth $11,480,000 after acquiring an additional 18,648 shares in the last quarter. 35.04% of the stock is owned by institutional investors and hedge funds.

Shares of Beam Global stock opened at $14.25 on Friday. The firm has a market capitalization of $143.51 million, a PE ratio of -19.52 and a beta of 0.40. Beam Global has a 12-month low of $10.19 and a 12-month high of $41.05. The stock’s fifty day moving average is $18.18 and its 200-day moving average is $19.30.

Beam Global Company Profile (Get Rating)

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized products for electric vehicle (EV) charging infrastructure, outdoor media and branding, and energy security products. The company's product portfolio include 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.

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