Needham & Company LLC Reaffirms Hold Rating for Beam Global (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

Separately, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Beam Global in a report on Thursday.

Beam Global Stock Performance

NASDAQ BEEM opened at $6.14 on Thursday. Beam Global has a twelve month low of $5.00 and a twelve month high of $13.66. The stock has a market cap of $88.66 million, a price-to-earnings ratio of -4.18 and a beta of 0.82. The firm’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $6.49.

Hedge Funds Weigh In On Beam Global

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Beam Global by 2,800.0% during the 1st quarter. FMR LLC now owns 2,001 shares of the company’s stock valued at $32,000 after acquiring an additional 1,932 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Beam Global by 960.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the company’s stock valued at $40,000 after purchasing an additional 3,534 shares during the last quarter. Quarry LP acquired a new stake in shares of Beam Global in the 2nd quarter valued at $67,000. Virtue Capital Management LLC acquired a new stake in shares of Beam Global in the 4th quarter valued at $71,000. Finally, OLD Mission Capital LLC acquired a new stake in shares of Beam Global in the 4th quarter valued at $75,000. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Beam Global Company Profile

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