Beam Global (NASDAQ:BEEM) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Beam Global (NASDAQ:BEEM) in a research note released on Monday morning,Benzinga reports.

Beam Global Stock Down 10.8 %

Shares of BEEM opened at $1.57 on Monday. The company has a market cap of $23.20 million, a P/E ratio of -1.62 and a beta of 1.27. Beam Global has a fifty-two week low of $1.50 and a fifty-two week high of $7.68. The firm’s 50 day moving average price is $2.18 and its 200 day moving average price is $3.23.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Friday, April 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.08). Beam Global had a negative net margin of 19.26% and a negative return on equity of 19.09%. The company had revenue of $11.94 million during the quarter, compared to analyst estimates of $12.99 million. Research analysts forecast that Beam Global will post -0.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEEM. Virtue Capital Management LLC grew its position in shares of Beam Global by 400.0% in the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $158,000 after buying an additional 40,000 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Beam Global by 106.0% during the fourth quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock worth $133,000 after purchasing an additional 21,548 shares during the last quarter. Northern Trust Corp increased its position in shares of Beam Global by 51.6% during the fourth quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock worth $173,000 after purchasing an additional 18,628 shares in the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of Beam Global by 28.1% in the 4th quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock valued at $190,000 after purchasing an additional 13,162 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Beam Global in the 4th quarter valued at about $39,000. Institutional investors and hedge funds 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.